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

HC Wainwright restated their buy rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report issued on Wednesday morning,Benzinga reports. They currently have a $30.00 price objective on the stock.

OLMA has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their target price on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Oppenheimer restated an “outperform” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $27.00.

Olema Pharmaceuticals Trading Down 0.5 %

NASDAQ OLMA opened at $11.48 on Wednesday. The firm’s fifty day simple moving average is $12.08 and its two-hundred day simple moving average is $11.98. Olema Pharmaceuticals has a 12-month low of $8.51 and a 12-month high of $17.23. The firm has a market capitalization of $657.46 million, a P/E ratio of -5.24 and a beta of 2.02.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01). As a group, sell-side analysts predict that Olema Pharmaceuticals will post -2.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OLMA. China Universal Asset Management Co. Ltd. raised its position in shares of 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 worth $132,000 after acquiring an additional 4,442 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth about $145,000. SG Americas Securities LLC acquired a new position in shares of Olema Pharmaceuticals during the 3rd quarter worth about $156,000. Entropy Technologies LP acquired a new position in shares of Olema Pharmaceuticals during the 1st quarter worth about $161,000. Finally, Ensign Peak Advisors Inc raised its position in shares of Olema Pharmaceuticals by 6.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock worth $161,000 after purchasing an additional 850 shares during the last quarter. Institutional investors and hedge funds 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.