Olema Pharmaceuticals, Inc. (OLMA) – What Are Brokerages Saying About This Stock?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $40.60.

OLMA has been the subject of several research analyst reports. Weiss Ratings raised Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 21st. Wall Street Zen cut Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, July 25th. Stifel Nicolaus lowered their target price on Olema Pharmaceuticals from $48.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, September 14th. JPMorgan Chase & Co. lowered their target price on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Finally, Citigroup dropped their price target on Olema Pharmaceuticals to $59.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th.

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 12,500 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the sale, the director directly owned 715,270 shares in the company, valued at $8,282,826.60. The trade was a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in OLMA. Arizona State Retirement System grew its position in shares of Olema Pharmaceuticals by 39.2% in the second quarter. Arizona State Retirement System now owns 14,430 shares of the company’s stock valued at $181,000 after purchasing an additional 4,062 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $220,000. Readystate Asset Management LP purchased a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $7,429,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $690,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Olema Pharmaceuticals by 96.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,136 shares of the company’s stock worth $615,000 after purchasing an additional 24,111 shares during the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

Olema Pharmaceuticals Trading Up 2.0%

Shares of Olema Pharmaceuticals stock opened at $7.25 on Wednesday. Olema Pharmaceuticals has a 12-month low of $6.48 and a 12-month high of $36.26. The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.01. The stock has a market cap of $634.38 million, a PE ratio of -3.42 and a beta of 2.00. The company has a 50-day moving average of $9.44 and a two-hundred day moving average of $11.62.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06). On average, research analysts anticipate that Olema Pharmaceuticals will post -2.43 EPS for the current fiscal year.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc (NASDAQ: OLMA) is a clinical-stage biopharmaceutical company focused on developing therapies for women’s cancers, with an emphasis on hormone receptor-positive breast cancer. The company’s research is centered on oral endocrine medicines designed to target estrogen receptor signaling, an important driver of many breast tumors.

Olema’s lead product candidate is palazestrant, an investigational oral selective estrogen receptor degrader (SERD) being evaluated for the treatment of estrogen receptor-positive, HER2-negative advanced or metastatic breast cancer.