Olema Pharmaceuticals (NASDAQ:OLMA) Research Coverage Started at UBS Group

UBS Group started coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research report sent to investors on Wednesday, Marketbeat reports. The firm issued a buy rating and a $45.00 price target on the stock.

OLMA has been the subject of several other research reports. Oppenheimer boosted their price objective on Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Piper Sandler initiated coverage on shares of Olema Pharmaceuticals in a research note on Wednesday. They issued an “overweight” rating and a $40.00 target price on the stock. Citigroup upped their price target on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 12th. JPMorgan Chase & Co. increased their price target on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA opened at $28.08 on Wednesday. The company has a 50-day simple moving average of $23.06 and a two-hundred day simple moving average of $12.44. Olema Pharmaceuticals has a 12-month low of $2.86 and a 12-month high of $36.26. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -15.02 and a beta of 1.92. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its earnings results on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). On average, equities analysts forecast that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Activity at Olema Pharmaceuticals

In other news, insider Naseem Zojwalla sold 99,509 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $27.66, for a total value of $2,752,418.94. Following the completion of the sale, the insider directly owned 4,488 shares of the company’s stock, valued at approximately $124,138.08. This trade represents a 95.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David C. Myles sold 51,000 shares of Olema Pharmaceuticals stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $30.46, for a total transaction of $1,553,460.00. Following the sale, the insider directly owned 551,881 shares in the company, valued at $16,810,295.26. The trade was a 8.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 588,190 shares of company stock worth $17,038,578. 16.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. boosted its position in Olema Pharmaceuticals by 55.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after acquiring an additional 2,168 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Olema Pharmaceuticals by 602.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock worth $29,000 after acquiring an additional 5,866 shares in the last quarter. FNY Investment Advisers LLC lifted its stake in shares of Olema Pharmaceuticals by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after purchasing an additional 5,000 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Olema Pharmaceuticals during the third quarter valued at approximately $53,000. Finally, American Century Companies Inc. purchased a new stake in Olema Pharmaceuticals in the second quarter worth $54,000. 91.78% of the stock is owned by institutional investors.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women’s cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 3 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer, as well as develops OPERA-01 for the of ER+/HER2- advanced or metastatic breast cancer.