Olema Pharmaceuticals (NASDAQ:OLMA) Coverage Initiated at Wolfe Research

Research analysts at Wolfe Research assumed coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report issued on Friday, Marketbeat Ratings reports. The firm set a “peer perform” rating on the stock.

A number of other research firms have also recently weighed in on OLMA. Piper Sandler started coverage on shares of Olema Pharmaceuticals in a report on Wednesday, January 7th. They issued an “overweight” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Citigroup increased their price target on Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. The Goldman Sachs Group dropped their price objective on Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Finally, UBS Group initiated coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They set a “buy” rating and a $45.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.40.

Olema Pharmaceuticals Stock Down 3.2%

Shares of OLMA opened at $13.67 on Friday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -7.35 and a beta of 1.92. Olema Pharmaceuticals has a 52 week low of $2.86 and a 52 week high of $36.26. The stock’s 50-day moving average price is $21.63 and its 200-day moving average price is $19.05. The company has a quick ratio of 9.95, a current ratio of 9.95 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.01. On average, sell-side analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Buying and Selling

In related news, insider Shane William Charles Kovacs sold 100,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the transaction, the insider directly owned 139,727 shares in the company, valued at approximately $4,014,356.71. This represents a 41.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cyrus Harmon sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $26.88, for a total value 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. This trade represents a 1.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 217,311 shares of company stock valued at $5,965,254 in the last quarter. Corporate insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of hedge funds have recently modified their holdings of OLMA. Bain Capital Life Sciences Investors LLC raised its holdings in Olema Pharmaceuticals by 24.3% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock valued at $212,716,000 after buying an additional 1,664,687 shares during the period. Paradigm Biocapital Advisors LP lifted its position in Olema Pharmaceuticals by 11.0% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,544,172 shares of the company’s stock valued at $188,604,000 after buying an additional 750,000 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Olema Pharmaceuticals by 87.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company’s stock worth $167,901,000 after buying an additional 3,124,345 shares during the period. Vanguard Group Inc. boosted its stake in Olema Pharmaceuticals by 11.4% during the fourth quarter. Vanguard Group Inc. now owns 3,561,355 shares of the company’s stock worth $89,034,000 after buying an additional 364,035 shares during the period. Finally, Deep Track Capital LP increased its position in shares of Olema Pharmaceuticals by 0.8% during the third quarter. Deep Track Capital LP now owns 3,470,172 shares of the company’s stock valued at $33,973,000 after acquiring an additional 27,339 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Company Profile

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.