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 report issued on Wednesday morning,Benzinga reports. They currently have a $30.00 price objective on the stock.

Olema Pharmaceuticals Trading Down 0.7 %

Shares of OLMA opened at $4.11 on Wednesday. The firm’s 50-day moving average is $5.14 and its two-hundred day moving average is $8.43. Olema Pharmaceuticals has a twelve month low of $3.95 and a twelve month high of $16.62. The firm has a market capitalization of $235.49 million, a P/E ratio of -1.88 and a beta of 2.11.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.12. Analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of Olema Pharmaceuticals stock in a transaction on Wednesday, January 8th. The shares were bought at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the completion of the acquisition, the insider now directly owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.40% of the stock is currently owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of OLMA. Victory Capital Management Inc. lifted its holdings in shares of Olema Pharmaceuticals by 9.9% in the third quarter. Victory Capital Management Inc. now owns 851,512 shares of the company’s stock valued at $10,167,000 after purchasing an additional 76,720 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Olema Pharmaceuticals in the third quarter valued at about $163,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Olema Pharmaceuticals by 168.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company’s stock valued at $3,949,000 after purchasing an additional 207,565 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Olema Pharmaceuticals in the third quarter valued at about $238,000. Finally, Great Point Partners LLC lifted its holdings in shares of Olema Pharmaceuticals by 25.5% in the third quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock valued at $11,940,000 after purchasing an additional 203,120 shares in the last quarter. Hedge funds and other 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.