Olema Pharmaceuticals (NASDAQ:OLMA) Research Coverage Started at Piper Sandler

Piper Sandler assumed coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research note published on Wednesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $40.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Oppenheimer lifted their price target on shares of Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. The Goldman Sachs Group boosted their price objective on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. UBS Group initiated coverage on shares of Olema Pharmaceuticals in a research note on Wednesday. They issued a “buy” rating and a $45.00 target price for the company. HC Wainwright lifted their price target on Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Finally, Guggenheim started coverage on Olema Pharmaceuticals in a report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Olema Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Olema Pharmaceuticals Stock Up 9.8%

NASDAQ:OLMA opened at $28.08 on Wednesday. Olema Pharmaceuticals has a 1 year low of $2.86 and a 1 year high of $36.26. The stock has a 50-day moving average price of $23.06 and a two-hundred day moving average price of $12.44. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -15.02 and a beta of 1.92. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). As a group, equities analysts expect that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Buying and Selling at Olema Pharmaceuticals

In related news, insider David C. Myles sold 51,000 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $30.46, for a total transaction of $1,553,460.00. Following the completion of the transaction, the insider directly owned 551,881 shares of the company’s stock, valued at approximately $16,810,295.26. This represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cyrus Harmon sold 2,881 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $28.53, for a total value of $82,194.93. Following the completion of the transaction, the director owned 741,259 shares of the company’s stock, valued at approximately $21,148,119.27. This represents a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 588,190 shares of company stock valued at $17,038,578. Corporate insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC lifted its position in shares of Olema Pharmaceuticals by 260.4% in the first quarter. Cubist Systematic Strategies LLC now owns 93,669 shares of the company’s stock valued at $352,000 after buying an additional 67,682 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Olema Pharmaceuticals during the 1st quarter worth approximately $172,000. Goldman Sachs Group Inc. raised its stake in Olema Pharmaceuticals by 93.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after acquiring an additional 358,412 shares during the period. Woodline Partners LP raised its stake in Olema Pharmaceuticals by 8.9% in the 1st quarter. Woodline Partners LP now owns 1,477,907 shares of the company’s stock valued at $5,557,000 after acquiring an additional 120,428 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Olema Pharmaceuticals by 216.8% during the 1st quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock valued at $521,000 after purchasing an additional 94,815 shares during the last quarter. Institutional investors and hedge funds 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.