Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been given an average rating of “Moderate Buy” by the eight research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $23.3333.

A number of research analysts recently weighed in on OLMA shares. Guggenheim started coverage on Olema Pharmaceuticals in a report on Wednesday. They set a “buy” rating and a $20.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday. Citigroup boosted their target price on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. boosted their target price on Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Finally, Zacks Research upgraded Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th.

Olema Pharmaceuticals Stock Down 1.0%

NASDAQ:OLMA opened at $10.57 on Friday. The firm has a market capitalization of $725.42 million, a price-to-earnings ratio of -5.34 and a beta of 2.08. Olema Pharmaceuticals has a twelve month low of $2.86 and a twelve month high of $13.51. The stock’s 50 day moving average price is $7.36 and its two-hundred day moving average price is $5.47. The company has a quick ratio of 11.09, a current ratio of 11.09 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its earnings results on Monday, August 11th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.08). Equities research analysts expect that Olema Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Insider Transactions at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 3,086 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $8.32, for a total value of $25,675.52. Following the completion of the sale, the director directly owned 117,028 shares in the company, valued at $973,672.96. The trade was a 2.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 25,000 shares of company stock valued at $204,841. Insiders own 16.36% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. MPM Bioimpact LLC boosted its stake in Olema Pharmaceuticals by 0.6% in the 1st quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company’s stock valued at $11,018,000 after purchasing an additional 17,896 shares during the period. Woodline Partners LP lifted its position in shares of Olema Pharmaceuticals by 8.9% during 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. Geode Capital Management LLC lifted its position in shares of Olema Pharmaceuticals by 22.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock valued at $5,650,000 after acquiring an additional 242,997 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Olema Pharmaceuticals by 193.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company’s stock valued at $4,996,000 after acquiring an additional 773,064 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Olema Pharmaceuticals by 93.6% during 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. 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.