Stifel Nicolaus Begins Coverage on Olema Pharmaceuticals (NASDAQ:OLMA)

Stock analysts at Stifel Nicolaus initiated coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report released on Wednesday. The firm set a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 105.39% from the stock’s previous close.

OLMA has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price target on Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. HC Wainwright raised their target price on shares of Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Citigroup lifted their target price on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Piper Sandler assumed coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, January 7th. They issued an “overweight” rating and a $40.00 price target on the stock. Finally, UBS Group initiated coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, January 7th. They set a “buy” rating and a $45.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.78.

Olema Pharmaceuticals Price Performance

OLMA stock opened at $23.37 on Wednesday. The firm has a 50 day moving average of $27.30 and a 200-day moving average of $15.91. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -12.50 and a beta of 1.89. 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 has a 12-month low of $2.86 and a 12-month high of $36.26.

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

Insiders Place Their Bets

In other Olema Pharmaceuticals news, insider Shane William Charles Kovacs sold 100,000 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the transaction, the insider directly owned 139,727 shares in the company, valued at approximately $4,014,356.71. The trade was a 41.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Naseem Zojwalla sold 100,000 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $28.04, for a total value of $2,804,000.00. Following the transaction, the insider directly owned 53,997 shares in the company, valued at approximately $1,514,075.88. This represents a 64.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 765,501 shares of company stock valued at $22,052,432. 16.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd grew its holdings in Olema Pharmaceuticals by 153.8% in the 2nd quarter. Persistent Asset Partners Ltd now owns 58,333 shares of the company’s stock valued at $248,000 after buying an additional 35,345 shares during the period. Titleist Asset Management LLC acquired a new stake in shares of Olema Pharmaceuticals in the second quarter worth approximately $64,000. Diadema Partners LP grew its holdings in Olema Pharmaceuticals by 153.7% in the second quarter. Diadema Partners LP now owns 253,657 shares of the company’s stock valued at $1,081,000 after purchasing an additional 153,657 shares during the period. Birchview Capital LP acquired a new position in Olema Pharmaceuticals during the second quarter worth approximately $571,000. Finally, Schroder Investment Management Group raised its stake in Olema Pharmaceuticals by 16.0% during the second quarter. Schroder Investment Management Group now owns 618,184 shares of the company’s stock worth $2,633,000 after purchasing an additional 85,073 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.