Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives Average Rating of “Moderate Buy” from Brokerages

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $44.40.

OLMA has been the subject of several research reports. Stifel Nicolaus began coverage on Olema Pharmaceuticals in a research report on Wednesday, February 11th. They set a “buy” rating and a $48.00 price objective for the company. HC Wainwright lowered their target price on Olema Pharmaceuticals from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Citigroup raised their price target on Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. TD Cowen reissued a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, March 9th. Finally, Oppenheimer restated an “outperform” rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $15.12 on Friday. The company has a current ratio of 9.95, a quick ratio of 9.95 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.32 billion, a P/E ratio of -8.13 and a beta of 2.17. The firm has a 50-day moving average price of $20.90 and a two-hundred day moving average price of $19.19. Olema Pharmaceuticals has a twelve month low of $2.86 and a twelve month high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.01. As a group, research analysts expect that Olema Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Insider Activity

In other Olema Pharmaceuticals news, insider Shane William Charles Kovacs sold 100,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the sale, the insider directly owned 139,727 shares of the company’s stock, valued at $4,014,356.71. This trade represents a 41.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawnte Mitchell sold 25,000 shares of Olema Pharmaceuticals stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total transaction of $606,250.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 217,311 shares of company stock worth $5,965,254. Company insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in Olema Pharmaceuticals in the first quarter valued at $172,000. Goldman Sachs Group Inc. grew its holdings in shares of Olema Pharmaceuticals by 93.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after purchasing an additional 358,412 shares during the period. Jane Street Group LLC grew its holdings in shares of Olema Pharmaceuticals by 216.8% during the 1st quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock worth $521,000 after purchasing an additional 94,815 shares during the period. Geode Capital Management LLC increased its position in Olema Pharmaceuticals by 22.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock worth $5,650,000 after purchasing an additional 242,997 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its position in Olema Pharmaceuticals by 76.2% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 14,195 shares of the company’s stock worth $60,000 after purchasing an additional 6,141 shares in the last quarter. Hedge funds and other 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.