HC Wainwright Reiterates Buy Rating for Olema Pharmaceuticals (NASDAQ:OLMA)

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $30.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 197.03% from the stock’s previous close. HC Wainwright also issued estimates for Olema Pharmaceuticals’ Q4 2024 earnings at ($0.64) EPS, FY2024 earnings at ($2.34) EPS, FY2025 earnings at ($2.82) EPS, FY2026 earnings at ($2.95) EPS, FY2027 earnings at ($2.83) EPS and FY2028 earnings at ($2.43) EPS.

Other equities analysts have also issued research reports about the stock. Oppenheimer restated an “outperform” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $27.00.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ:OLMA opened at $10.10 on Wednesday. The firm has a market cap of $578.73 million, a PE ratio of -4.61 and a beta of 2.02. Olema Pharmaceuticals has a 52 week low of $8.51 and a 52 week high of $17.23. The firm’s fifty day moving average is $12.05 and its 200-day moving average is $11.96.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01). Sell-side analysts forecast that Olema Pharmaceuticals will post -2.32 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in shares of Olema Pharmaceuticals by 67.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock worth $132,000 after purchasing an additional 4,442 shares during the period. Portland Investment Counsel Inc. acquired a new position in Olema Pharmaceuticals during the third quarter worth $143,000. Cubist Systematic Strategies LLC acquired a new position in Olema Pharmaceuticals during the second quarter worth $145,000. SG Americas Securities LLC bought a new position in shares of Olema Pharmaceuticals in the third quarter valued at $156,000. Finally, Entropy Technologies LP acquired a new position in shares of Olema Pharmaceuticals during the first quarter valued at about $161,000. 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.