Olema Pharmaceuticals’ (OLMA) Outperform Rating Reiterated at Oppenheimer

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “outperform” rating reissued by analysts at Oppenheimer in a research note issued on Wednesday, Benzinga reports. They currently have a $30.00 price target on the stock. Oppenheimer’s target price indicates a potential upside of 137.15% from the stock’s previous close.

Separately, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Tuesday, June 4th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $23.50.

Olema Pharmaceuticals Stock Down 9.3 %

NASDAQ:OLMA traded down $1.29 on Wednesday, hitting $12.65. The stock had a trading volume of 378,730 shares, compared to its average volume of 853,078. The company has a fifty day moving average price of $12.79 and a two-hundred day moving average price of $12.16. The stock has a market cap of $707.57 million, a price-to-earnings ratio of -6.41 and a beta of 2.06. Olema Pharmaceuticals has a 1-year low of $8.50 and a 1-year high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.54). As a group, analysts anticipate that Olema Pharmaceuticals will post -2.3 earnings per share for the current year.

Insider Activity

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 15,000 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $9.41, for a total transaction of $141,150.00. Following the completion of the sale, the director now directly owns 791,283 shares of the company’s stock, valued at approximately $7,445,973.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the completion of the transaction, the insider now directly owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Cyrus Harmon sold 15,000 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $9.41, for a total value of $141,150.00. Following the completion of the transaction, the director now owns 791,283 shares of the company’s stock, valued at approximately $7,445,973.03. The disclosure for this sale can be found here. Insiders have sold 2,449,066 shares of company stock valued at $36,319,848 in the last ninety days. 19.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several institutional investors have recently modified their holdings of OLMA. Vanguard Group Inc. raised its stake in shares of Olema Pharmaceuticals by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,710,307 shares of the company’s stock worth $21,122,000 after buying an additional 36,785 shares during the last quarter. SG Americas Securities LLC lifted its stake in Olema Pharmaceuticals by 38.1% in the 4th quarter. SG Americas Securities LLC now owns 15,874 shares of the company’s stock valued at $223,000 after buying an additional 4,379 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Olema Pharmaceuticals by 9.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,951 shares of the company’s stock worth $224,000 after buying an additional 1,367 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at $130,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Olema Pharmaceuticals by 879.6% during the fourth quarter. Victory Capital Management Inc. now owns 621,527 shares of the company’s stock valued at $8,720,000 after acquiring an additional 558,077 shares during 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.