Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Given Average Recommendation of “Buy” by Analysts

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have received an average recommendation of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $22.00.

OLMA has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on shares of Olema Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 target price on the stock.

Olema Pharmaceuticals Stock Down 3.5 %

Shares of NASDAQ OLMA opened at $10.82 on Friday. The firm has a market cap of $605.16 million, a PE ratio of -5.36 and a beta of 2.05. Olema Pharmaceuticals has a 12-month low of $7.78 and a 12-month high of $17.79. The company’s fifty day simple moving average is $10.84 and its 200 day simple moving average is $12.02.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Wednesday, May 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.03). On average, equities analysts predict that Olema Pharmaceuticals will post -2.3 earnings per share for the current year.

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $9.51, for a total value of $142,650.00. Following the transaction, the director now owns 811,283 shares of the company’s stock, valued at approximately $7,715,301.33. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 40,000 shares of company stock valued at $393,050. 19.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in shares of Olema Pharmaceuticals during the 3rd quarter worth approximately $35,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Olema Pharmaceuticals during the 4th quarter worth approximately $89,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Olema Pharmaceuticals during the 4th quarter worth approximately $130,000. Entropy Technologies LP bought a new position in shares of Olema Pharmaceuticals during the 1st quarter worth approximately $161,000. Finally, EntryPoint Capital LLC raised its holdings in shares of Olema Pharmaceuticals by 949.9% in the 1st quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock worth $164,000 after purchasing an additional 13,146 shares during the period. 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.