Guggenheim Cuts Olema Pharmaceuticals (NASDAQ:OLMA) Price Target to $35.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its price objective cut by Guggenheim from $38.00 to $35.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on OLMA. JPMorgan Chase & Co. boosted their price objective on Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Wolfe Research initiated coverage on Olema Pharmaceuticals in a report on Friday, March 27th. They issued a “peer perform” rating for the company. Wall Street Zen raised Olema Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Stifel Nicolaus initiated coverage on Olema Pharmaceuticals in a report on Wednesday, February 11th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, Oppenheimer reissued an “outperform” rating on shares of Olema Pharmaceuticals in a report on Monday, March 9th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.10.

Olema Pharmaceuticals Stock Down 1.7%

Olema Pharmaceuticals stock opened at $13.59 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.95 and a current ratio of 10.88. The business’s 50-day simple moving average is $15.38 and its two-hundred day simple moving average is $20.44. The company has a market cap of $1.19 billion, a PE ratio of -6.73 and a beta of 2.05. Olema Pharmaceuticals has a fifty-two week low of $3.89 and a fifty-two week high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, meeting the consensus estimate of ($0.52). Equities analysts anticipate that Olema Pharmaceuticals will post -2.19 EPS for the current year.

Insider Activity at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, insider Shawnte Mitchell sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total transaction of $606,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Olema Pharmaceuticals by 9,476.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock valued at $31,000 after acquiring an additional 1,232 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $44,000. Russell Investments Group Ltd. purchased a new stake in shares of Olema Pharmaceuticals in the third quarter valued at approximately $53,000. American Century Companies Inc. purchased a new stake in shares of Olema Pharmaceuticals in the second quarter valued at approximately $54,000. Finally, Creative Planning purchased a new stake in shares of Olema Pharmaceuticals in the second quarter valued at approximately $83,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

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.