Wall Street Zen Downgrades Olema Pharmaceuticals (NASDAQ:OLMA) to Strong Sell

Olema Pharmaceuticals (NASDAQ:OLMA) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

Several other equities analysts have also issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Friday, July 17th. HC Wainwright reiterated a “buy” rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Guggenheim cut their price objective on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Finally, Wolfe Research began coverage on Olema Pharmaceuticals in a research note on Friday, March 27th. They issued a “peer perform” rating for the company. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.10.

Olema Pharmaceuticals Stock Performance

Shares of OLMA stock opened at $11.70 on Friday. Olema Pharmaceuticals has a 52-week low of $4.47 and a 52-week high of $36.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.88 and a current ratio of 10.88. The company has a 50-day simple moving average of $11.61 and a two-hundred day simple moving average of $16.99. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -5.79 and a beta of 2.00.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, meeting the consensus estimate of ($0.52). Research analysts anticipate that Olema Pharmaceuticals will post -2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Siren L.L.C. purchased a new position in Olema Pharmaceuticals in the fourth quarter valued at approximately $82,518,000. Janus Henderson Group PLC increased its position in Olema Pharmaceuticals by 87.1% in the fourth quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company’s stock worth $167,901,000 after buying an additional 3,124,345 shares during the last quarter. Cormorant Asset Management LP purchased a new stake in Olema Pharmaceuticals in the fourth quarter worth $68,750,000. RA Capital Management L.P. bought a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at $65,000,000. Finally, Bain Capital Life Sciences Investors LLC raised its stake in shares of Olema Pharmaceuticals by 24.3% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock valued at $212,716,000 after buying an additional 1,664,687 shares during the period. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Company Profile

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.