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

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have covered the stock in the last year is $27.00.

Several equities analysts recently issued reports on OLMA shares. JPMorgan Chase & Co. lowered their price target on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Oppenheimer restated an “outperform” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th.

Olema Pharmaceuticals Trading Up 0.4 %

Shares of Olema Pharmaceuticals stock opened at $12.27 on Friday. Olema Pharmaceuticals has a 1 year low of $8.51 and a 1 year high of $17.79. The company’s fifty day simple moving average is $13.00 and its 200-day simple moving average is $11.79. The company has a market cap of $702.70 million, a price-to-earnings ratio of -6.07 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.54). As a group, research analysts forecast that Olema Pharmaceuticals will post -1.51 earnings per share for the current fiscal year.

Insider Activity at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the completion of the transaction, the insider now directly owns 783,118 shares in the company, valued at $11,676,289.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Cyrus Harmon sold 20,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $10.77, for a total value of $215,400.00. Following the completion of the transaction, the director now owns 761,283 shares in the company, valued at $8,199,017.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the transaction, the insider now directly owns 783,118 shares in the company, valued at $11,676,289.38. The disclosure for this sale can be found here. Insiders have sold a total of 2,429,066 shares of company stock valued at $36,124,048 in the last 90 days. 19.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC bought a new position in shares of Olema Pharmaceuticals in the fourth quarter worth about $8,854,000. Swiss National Bank acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $906,000. Perceptive Advisors LLC bought a new position in Olema Pharmaceuticals in the 4th quarter worth approximately $7,574,000. Janus Henderson Group PLC lifted its holdings in Olema Pharmaceuticals by 74.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after buying an additional 521,562 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Olema Pharmaceuticals by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock valued at $24,069,000 after buying an additional 21,420 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

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.