Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives Average Recommendation of “Buy” from Analysts

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has received an average recommendation of “Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.00.

A number of brokerages have issued reports on OLMA. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a report on Tuesday, June 4th. The Goldman Sachs Group began coverage on shares of Olema Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 target price on the stock.

Insider Activity

In other news, Director Cyrus Harmon sold 5,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $10.92, for a total transaction of $54,600.00. Following the sale, the director now owns 806,283 shares of the company’s stock, valued at $8,804,610.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 40,000 shares of company stock valued at $393,050. Insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Caxton Associates LP acquired a new position in shares of Olema Pharmaceuticals during the third quarter valued at approximately $166,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Olema Pharmaceuticals by 68.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 388,982 shares of the company’s stock valued at $4,804,000 after acquiring an additional 157,549 shares in the last quarter. Acuta Capital Partners LLC grew its holdings in shares of Olema Pharmaceuticals by 44.6% during the 3rd quarter. Acuta Capital Partners LLC now owns 153,007 shares of the company’s stock valued at $1,890,000 after acquiring an additional 47,193 shares in the last quarter. Polar Capital Holdings Plc purchased a new position in shares of Olema Pharmaceuticals during the 3rd quarter valued at $9,262,000. Finally, EP Wealth Advisors LLC boosted its holdings in Olema Pharmaceuticals by 831.1% in the third quarter. EP Wealth Advisors LLC now owns 46,248 shares of the company’s stock worth $571,000 after purchasing an additional 41,281 shares in the last quarter. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

Shares of OLMA stock opened at $10.82 on Friday. Olema Pharmaceuticals has a one year low of $7.78 and a one year high of $17.79. The company’s 50-day simple moving average is $10.84 and its 200-day simple moving average is $12.02. The stock has a market capitalization of $605.16 million, a price-to-earnings ratio of -5.36 and a beta of 2.05.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.03). As a group, research analysts forecast that Olema Pharmaceuticals will post -2.3 EPS for the current year.

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.