HC Wainwright Raises Olema Pharmaceuticals (NASDAQ:OLMA) Price Target to $45.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target upped by analysts at HC Wainwright from $36.00 to $45.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 46.68% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. Guggenheim started coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. They set a “buy” rating and a $20.00 price objective for the company. Zacks Research upgraded shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Oppenheimer upped their price target on shares of Olema Pharmaceuticals from $22.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Finally, The Goldman Sachs Group increased their price target on Olema Pharmaceuticals from $18.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 21st. Seven 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Olema Pharmaceuticals Stock Up 15.4%

OLMA stock opened at $30.68 on Thursday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -16.41 and a beta of 1.87. Olema Pharmaceuticals has a 12 month low of $2.86 and a 12 month high of $30.97. The company has a fifty day moving average price of $14.89 and a 200 day moving average price of $8.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03.

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

Insider Buying and Selling at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 3,086 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $8.32, for a total transaction 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. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 25,000 shares of company stock worth $204,841 in the last three months. 16.36% of the stock is owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in OLMA. Russell Investments Group Ltd. acquired a new stake in shares of Olema Pharmaceuticals during the third quarter worth $53,000. Ameritas Investment Partners Inc. grew its stake in shares of Olema Pharmaceuticals by 55.4% in the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after purchasing an additional 2,168 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Olema Pharmaceuticals by 602.9% in the second quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock worth $29,000 after purchasing an additional 5,866 shares during the period. FNY Investment Advisers LLC grew its position in Olema Pharmaceuticals by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after buying an additional 5,000 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Olema Pharmaceuticals during the first quarter valued at approximately $45,000. 91.78% of the stock is 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.