Olema Pharmaceuticals (NASDAQ:OLMA) Reaches New 12-Month High – Still a Buy?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.51 and last traded at $27.3840, with a volume of 723226 shares changing hands. The stock had previously closed at $26.07.

Wall Street Analyst Weigh In

Several research firms have recently commented on OLMA. Citigroup boosted their price target on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Zacks Research upgraded Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. UBS Group reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. The Goldman Sachs Group lifted 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. Finally, Oppenheimer boosted their price target on Olema Pharmaceuticals from $22.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Olema Pharmaceuticals Price Performance

The company’s 50-day simple moving average is $10.71 and its 200 day simple moving average is $7.09. 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 stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -15.66 and a beta of 2.07.

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

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 3,086 shares of the company’s stock in a transaction that occurred on 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 owned 117,028 shares of the company’s stock, valued at $973,672.96. This represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 25,000 shares of company stock valued at $204,841. 16.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its position in shares of Olema Pharmaceuticals by 55.4% during the 2nd 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 during the last quarter. Farther Finance Advisors LLC increased its position in Olema Pharmaceuticals by 602.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock worth $29,000 after buying an additional 5,866 shares during the period. FNY Investment Advisers LLC increased 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 worth $42,000 after buying an additional 5,000 shares during the period. Quarry LP acquired a new position in shares of Olema Pharmaceuticals during the first quarter worth approximately $45,000. Finally, Alpine Global Management LLC bought a new stake in shares of Olema Pharmaceuticals in the first quarter valued at approximately $52,000. Institutional investors 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.