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

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been assigned an average recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $22.00.

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

Olema Pharmaceuticals Price Performance

OLMA opened at $10.67 on Friday. The company has a market capitalization of $596.77 million, a price-to-earnings ratio of -5.28 and a beta of 2.06. Olema Pharmaceuticals has a 1-year low of $7.78 and a 1-year high of $17.79. The business has a 50 day moving average price of $10.90 and a two-hundred day moving average price of $11.98.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). Equities analysts expect that Olema Pharmaceuticals will post -2.3 EPS for the current fiscal year.

Insider Buying and Selling at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 5,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $10.92, for a total transaction of $54,600.00. Following the completion of the sale, the director now directly owns 806,283 shares in the company, valued at $8,804,610.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 60,000 shares of company stock worth $608,450 over the last ninety days. Company insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in shares of Olema Pharmaceuticals by 3.4% in the first quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock valued at $393,000 after buying an additional 1,132 shares during the period. Janus Henderson Group PLC raised its position in Olema Pharmaceuticals by 74.5% in the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after purchasing an additional 521,562 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Olema Pharmaceuticals by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock worth $298,000 after buying an additional 1,486 shares in the last quarter. EntryPoint Capital LLC increased its holdings in shares of Olema Pharmaceuticals by 949.9% during the first quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock worth $164,000 after buying an additional 13,146 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Olema Pharmaceuticals during the first quarter worth approximately $161,000. 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.