Olema Pharmaceuticals (NASDAQ:OLMA) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research note issued to investors on Friday,Benzinga reports. The brokerage set a “peer perform” rating on the stock.

A number of other analysts have also recently weighed in on OLMA. Oppenheimer reissued an “outperform” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. TD Cowen restated a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. HC Wainwright decreased their price objective on Olema Pharmaceuticals from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Citigroup upped their price objective on Olema Pharmaceuticals from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Finally, UBS Group began coverage on Olema Pharmaceuticals in a report on Wednesday, January 7th. They issued a “buy” rating and a $45.00 target price for the company. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.40.

Olema Pharmaceuticals Stock Down 0.4%

OLMA opened at $14.12 on Friday. The company has a market capitalization of $1.23 billion, a P/E ratio of -7.59 and a beta of 1.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.95 and a quick ratio of 9.95. The firm’s fifty day moving average price is $21.90 and its two-hundred day moving average price is $18.93. Olema Pharmaceuticals has a fifty-two week low of $2.86 and a fifty-two week high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Monday, March 16th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.01. On average, analysts anticipate that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Activity

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $26.88, for a total transaction of $268,800.00. Following the sale, the director directly owned 727,770 shares of the company’s stock, valued at approximately $19,562,457.60. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shane William Charles Kovacs sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the sale, the insider directly owned 139,727 shares of the company’s stock, valued at approximately $4,014,356.71. The trade was a 41.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 217,311 shares of company stock worth $5,965,254 in the last quarter. 16.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its holdings in Olema Pharmaceuticals by 55.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after purchasing an additional 2,168 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Olema Pharmaceuticals by 9,476.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock worth $31,000 after purchasing an additional 1,232 shares in the last quarter. Torren Management LLC bought a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth $44,000. Russell Investments Group Ltd. bought a new stake in shares of Olema Pharmaceuticals during the third quarter worth $53,000. Finally, American Century Companies Inc. acquired a new stake in shares of Olema Pharmaceuticals in the second quarter valued at $54,000. 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.