Olema Pharmaceuticals (NASDAQ:OLMA) Upgraded to “Strong-Buy” at UBS Group

UBS Group upgraded shares of Olema Pharmaceuticals (NASDAQ:OLMA) to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

OLMA has been the topic of a number of other reports. Piper Sandler started coverage on shares of Olema Pharmaceuticals in a report on Wednesday. They set an “overweight” rating and a $40.00 target price on the stock. Zacks Research raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. The Goldman Sachs Group upped their target price on Olema Pharmaceuticals from $26.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Citigroup raised their price target on Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Olema Pharmaceuticals Stock Down 5.5%

Shares of Olema Pharmaceuticals stock opened at $25.57 on Wednesday. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.76 billion, a P/E ratio of -13.67 and a beta of 1.92. Olema Pharmaceuticals has a fifty-two week low of $2.86 and a fifty-two week high of $36.26. The business has a 50-day moving average price of $22.68 and a 200 day moving average price of $12.28.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). On average, sell-side analysts forecast that Olema Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ian T. Clark sold 264,800 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $29.73, for a total value of $7,872,504.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Naseem Zojwalla sold 100,000 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $28.04, for a total transaction of $2,804,000.00. Following the completion of the transaction, the insider owned 53,997 shares of the company’s stock, valued at $1,514,075.88. This represents a 64.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 588,190 shares of company stock worth $17,038,578. Insiders own 16.36% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OLMA. Ameritas Investment Partners Inc. raised 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 purchasing an additional 2,168 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Olema Pharmaceuticals by 602.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after purchasing an additional 5,866 shares during the period. FNY Investment Advisers LLC raised its stake in shares of Olema Pharmaceuticals by 100.0% in 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 in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Olema Pharmaceuticals in the third quarter valued at $53,000. Finally, American Century Companies Inc. bought a new position in Olema Pharmaceuticals during the second quarter valued at about $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.