Olema Pharmaceuticals’ (OLMA) Buy Rating Reaffirmed at HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 159.74% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Oppenheimer reissued an “outperform” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $27.00.

Olema Pharmaceuticals Trading Down 1.5 %

Olema Pharmaceuticals stock opened at $11.55 on Thursday. The stock has a 50 day moving average of $12.05 and a two-hundred day moving average of $11.83. Olema Pharmaceuticals has a twelve month low of $8.51 and a twelve month high of $17.79. The stock has a market capitalization of $646.04 million, a price-to-earnings ratio of -5.72 and a beta of 2.02.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.54) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.54). Equities analysts predict that Olema Pharmaceuticals will post -1.51 earnings per share for the current year.

Insider Activity

In related news, Director Cyrus Harmon sold 4,066 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.58, for a total value of $63,348.28. Following the sale, the director now owns 752,217 shares in the company, valued at $11,719,540.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 4,066 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.58, for a total value of $63,348.28. Following the sale, the director now owns 752,217 shares of the company’s stock, valued at approximately $11,719,540.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of Olema Pharmaceuticals stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the transaction, the insider now directly owns 783,118 shares of the company’s stock, valued at $11,676,289.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OLMA. Ensign Peak Advisors Inc increased its position in Olema Pharmaceuticals by 6.1% during the second quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock worth $161,000 after buying an additional 850 shares in the last quarter. California State Teachers Retirement System increased its position in Olema Pharmaceuticals by 3.4% during the 1st quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock worth $393,000 after purchasing an additional 1,132 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Olema Pharmaceuticals by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock valued at $298,000 after purchasing an additional 1,486 shares during the last quarter. ClariVest Asset Management LLC lifted its holdings in Olema Pharmaceuticals by 3.1% in the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock valued at $683,000 after purchasing an additional 1,881 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Olema Pharmaceuticals by 67.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock valued at $132,000 after purchasing an additional 4,442 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.