Olema Pharmaceuticals (NASDAQ:OLMA) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $30.00 target price on the stock.

A number of other analysts have also recently weighed in on OLMA. Oppenheimer reaffirmed an “outperform” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Olema Pharmaceuticals Stock Performance

Shares of OLMA opened at $11.55 on Thursday. Olema Pharmaceuticals has a 52-week low of $8.51 and a 52-week high of $17.79. The firm has a market cap of $646.04 million, a price-to-earnings ratio of -5.72 and a beta of 2.02. The business’s fifty day moving average is $12.05 and its 200-day moving average is $11.84.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, hitting the consensus estimate of ($0.54). As a group, research analysts forecast that Olema Pharmaceuticals will post -1.51 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the sale, the insider now owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 19.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in Olema Pharmaceuticals during the 2nd quarter worth about $34,753,000. Great Point Partners LLC acquired a new stake in Olema Pharmaceuticals during the second quarter worth approximately $8,622,000. Candriam S.C.A. increased its holdings in Olema Pharmaceuticals by 199.9% in the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock worth $11,454,000 after purchasing an additional 705,655 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Olema Pharmaceuticals by 74.5% in the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after purchasing an additional 521,562 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new position in Olema Pharmaceuticals in the second quarter valued at approximately $2,976,000. 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.