Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives Consensus Recommendation of “Buy” from Brokerages

by · The Markets Daily

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Get Free Report) have received an average recommendation of “Buy” from the six research firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $27.00.

A number of research firms have issued reports on OLMA. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th.

View Our Latest Research Report on Olema Pharmaceuticals

Insider Activity

In related news, Director Cyrus Harmon sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $12.26, for a total transaction of $61,300.00. Following the sale, the director now directly owns 756,283 shares of the company’s stock, valued at $9,272,029.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 783,118 shares in the company, valued at approximately $11,676,289.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cyrus Harmon sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $12.26, for a total value of $61,300.00. Following the completion of the transaction, the director now directly owns 756,283 shares of the company’s stock, valued at approximately $9,272,029.58. The disclosure for this sale can be found here. Insiders sold a total of 2,429,066 shares of company stock valued at $36,124,048 in the last quarter. 19.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLMA. Point72 Asset Management L.P. purchased a new position in Olema Pharmaceuticals in the 2nd quarter valued at about $34,753,000. Dimensional Fund Advisors LP raised its holdings in shares of Olema Pharmaceuticals by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock valued at $24,069,000 after acquiring an additional 21,420 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Olema Pharmaceuticals by 74.5% in the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock valued at $13,817,000 after acquiring an additional 521,562 shares in the last quarter. Candriam S.C.A. boosted its stake in shares of 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 acquiring an additional 705,655 shares during the last quarter. Finally, Great Point Partners LLC purchased a new stake in shares of Olema Pharmaceuticals during the second quarter worth approximately $8,622,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Trading Up 6.2 %

Shares of OLMA stock opened at $13.60 on Friday. The company has a market cap of $778.87 million, a PE ratio of -6.73 and a beta of 2.03. Olema Pharmaceuticals has a 12-month low of $8.51 and a 12-month high of $17.79. The business’s fifty day simple moving average is $13.03 and its 200-day simple moving average is $11.79.

Olema Pharmaceuticals (NASDAQ:OLMA – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share for the quarter, hitting the consensus estimate of ($0.54). On average, equities analysts forecast that Olema Pharmaceuticals will post -1.51 earnings per share for the current year.

Olema Pharmaceuticals Company Profile

(Get Free Report

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.

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