Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Given Average Recommendation of “Buy” by Brokerages

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $27.00.

Several brokerages have recently commented on OLMA. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Thursday, October 24th. Oppenheimer restated an “outperform” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock opened at $11.62 on Friday. The stock has a fifty day moving average price of $12.01 and a two-hundred day moving average price of $11.85. Olema Pharmaceuticals has a 52-week low of $8.51 and a 52-week high of $17.79. The firm has a market capitalization of $665.48 million, a P/E ratio of -5.61 and a beta of 2.02.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.54). On average, equities research analysts predict that Olema Pharmaceuticals will post -1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its holdings in Olema Pharmaceuticals by 67.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock valued at $132,000 after acquiring an additional 4,442 shares during the last quarter. SG Americas Securities LLC acquired a new position in Olema Pharmaceuticals in the third quarter valued at about $156,000. Cubist Systematic Strategies LLC acquired a new position in Olema Pharmaceuticals in the second quarter valued at about $145,000. Entropy Technologies LP acquired a new position in Olema Pharmaceuticals in the first quarter valued at about $161,000. Finally, EntryPoint Capital LLC lifted its stake in Olema Pharmaceuticals by 949.9% in the first quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock valued at $164,000 after buying an additional 13,146 shares during the period. Institutional investors own 91.78% of the company’s stock.

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.