Olema Pharmaceuticals (NASDAQ:OLMA) Coverage Initiated at Stifel Nicolaus

Equities researchers at Stifel Nicolaus began coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research report issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus’ target price indicates a potential upside of 102.11% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Citigroup upped their target price on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, December 12th. The Goldman Sachs Group upped their price objective on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. increased their target price on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Thursday, January 22nd. Finally, HC Wainwright upped their price target on Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Olema Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $41.78.

Olema Pharmaceuticals Stock Performance

OLMA opened at $23.75 on Wednesday. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $27.15 and its two-hundred day moving average price is $16.02. The firm has a market capitalization of $1.63 billion, a P/E ratio of -12.70 and a beta of 1.89. Olema Pharmaceuticals has a 12-month low of $2.86 and a 12-month high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.49) EPS 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 earnings per share for the current year.

Insider Activity

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $26.88, for a total transaction of $268,800.00. Following the sale, the director directly owned 727,770 shares of the company’s stock, valued at approximately $19,562,457.60. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David C. Myles sold 51,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $30.46, for a total value of $1,553,460.00. Following the completion of the sale, the insider owned 551,881 shares in the company, valued at approximately $16,810,295.26. This represents a 8.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 765,501 shares of company stock valued at $22,052,432. 16.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Olema Pharmaceuticals by 9,476.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock valued at $31,000 after purchasing an additional 1,232 shares in the last quarter. Torren Management LLC bought a new position in Olema Pharmaceuticals during the 4th quarter valued at about $44,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Olema Pharmaceuticals in the fourth quarter valued at about $88,000. Nisa Investment Advisors LLC boosted its position in Olema Pharmaceuticals by 14.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock valued at $94,000 after buying an additional 477 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Olema Pharmaceuticals by 44.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock worth $96,000 after buying an additional 1,169 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.