Olema Pharmaceuticals (NASDAQ:OLMA) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research report report published on Wednesday, Benzinga reports. HC Wainwright currently has a $30.00 price objective on the stock. HC Wainwright also issued estimates for Olema Pharmaceuticals’ Q2 2024 earnings at ($0.50) EPS, Q3 2024 earnings at ($0.53) EPS, Q4 2024 earnings at ($0.56) EPS, FY2024 earnings at ($2.15) EPS, FY2025 earnings at ($2.43) EPS, FY2026 earnings at ($2.44) EPS, FY2027 earnings at ($2.42) EPS and FY2028 earnings at ($2.17) EPS.

A number of other equities analysts have also recently commented on OLMA. Capital One Financial reaffirmed an overweight rating on shares of Olema Pharmaceuticals in a research report on Thursday, February 22nd. Citigroup began coverage on shares of Olema Pharmaceuticals in a research note on Tuesday, January 30th. They issued a buy rating and a $20.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on shares of Olema Pharmaceuticals in a research report on Tuesday, April 2nd. They set a buy rating and a $24.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of Buy and an average target price of $22.00.

Olema Pharmaceuticals Trading Up 1.9 %

Shares of OLMA stock opened at $9.84 on Wednesday. The company has a fifty day moving average price of $10.76 and a two-hundred day moving average price of $12.70. Olema Pharmaceuticals has a one year low of $5.02 and a one year high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). On average, research analysts expect that Olema Pharmaceuticals will post -2.4 EPS for the current year.

Insider Buying and Selling

In other news, Director Cyrus Harmon sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $12.41, for a total value of $310,250.00. Following the completion of the transaction, the director now directly owns 846,283 shares in the company, valued at approximately $10,502,372.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 65,000 shares of company stock valued at $726,900 over the last quarter. 23.50% of the stock is owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of OLMA. SG Americas Securities LLC bought a new position in shares of Olema Pharmaceuticals in the third quarter worth about $142,000. Raymond James & Associates bought a new stake in shares of Olema Pharmaceuticals during the third quarter worth $370,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Olema Pharmaceuticals during the third quarter worth $164,000. Victory Capital Management Inc. bought a new position in shares of Olema Pharmaceuticals in the 3rd quarter valued at $784,000. Finally, Vivo Capital LLC lifted its stake in shares of Olema Pharmaceuticals by 39.9% in the 3rd quarter. Vivo Capital LLC now owns 1,873,704 shares of the company’s stock valued at $23,140,000 after acquiring an additional 534,433 shares during the last quarter. 91.78% of the stock is currently 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.