Olema Pharmaceuticals (NASDAQ:OLMA) Receives “Outperform” Rating from Oppenheimer

Oppenheimer restated their outperform rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report issued on Wednesday morning,Benzinga reports. The firm currently has a $25.00 price objective on the stock, down from their previous price objective of $30.00.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday.

Olema Pharmaceuticals Stock Up 2.7 %

NASDAQ OLMA opened at $4.23 on Wednesday. Olema Pharmaceuticals has a 52 week low of $3.94 and a 52 week high of $16.62. The business has a 50 day moving average price of $5.09 and a 200-day moving average price of $8.35. The company has a market cap of $242.37 million, a price-to-earnings ratio of -1.93 and a beta of 2.11.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings data 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. On average, equities research analysts anticipate that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of Olema Pharmaceuticals stock in a transaction on Wednesday, January 8th. The stock was acquired at an average cost of $5.76 per share, with a total value of $1,728,000.00. Following the transaction, the insider now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.40% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at approximately $30,000. Hsbc Holdings PLC bought a new position in Olema Pharmaceuticals in the 4th quarter valued at $58,000. Teacher Retirement System of Texas bought a new position in Olema Pharmaceuticals in the 4th quarter valued at $60,000. Vontobel Holding Ltd. purchased a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $62,000. Finally, Virtus ETF Advisers LLC raised its stake in shares of Olema Pharmaceuticals by 43.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock worth $62,000 after purchasing an additional 3,185 shares during the period. 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.