Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Up 6.3% – Time to Buy?

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) traded up 6.3% during trading on Friday . The company traded as high as $8.44 and last traded at $8.44. 156,901 shares were traded during mid-day trading, a decline of 84% from the average session volume of 971,724 shares. The stock had previously closed at $7.94.

Wall Street Analyst Weigh In

A number of research analysts recently commented on OLMA shares. Oppenheimer restated an “outperform” rating and issued a $22.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, September 3rd. Citigroup upped their target price on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Guggenheim began coverage on Olema Pharmaceuticals in a report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Finally, UBS Group restated a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Olema Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 11.09. The stock has a market capitalization of $592.19 million, a price-to-earnings ratio of -4.61 and a beta of 2.07. The stock has a 50-day moving average of $8.91 and a 200 day moving average of $6.28.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.05). On average, analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 3,086 shares of the 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 transaction, the director owned 117,028 shares of the company’s stock, valued at $973,672.96. This represents a 2.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 25,000 shares of company stock worth $204,841. Insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLMA. Ameritas Investment Partners Inc. boosted its holdings in Olema Pharmaceuticals by 55.4% during the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after buying an additional 2,168 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Olema Pharmaceuticals by 602.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after buying an additional 5,866 shares in the last quarter. FNY Investment Advisers LLC raised its stake in Olema Pharmaceuticals by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $42,000 after buying an additional 5,000 shares during the period. Quarry LP acquired a new stake in Olema Pharmaceuticals during the 1st quarter worth $45,000. Finally, Alpine Global Management LLC bought a new stake in Olema Pharmaceuticals in the 1st quarter valued at $52,000. Institutional investors 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.