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

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been assigned a consensus rating of “Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $27.00.

A number of brokerages recently issued reports on OLMA. Oppenheimer reissued an “outperform” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OLMA. Point72 Asset Management L.P. bought a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $34,753,000. Janus Henderson Group PLC boosted its stake in shares of Olema Pharmaceuticals by 74.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after acquiring an additional 521,562 shares during the period. Candriam S.C.A. boosted its stake in shares of Olema Pharmaceuticals by 199.9% during the 2nd 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 period. Great Point Partners LLC bought a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $8,622,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Olema Pharmaceuticals by 26.9% during the 2nd quarter. Victory Capital Management Inc. now owns 774,792 shares of the company’s stock worth $8,383,000 after acquiring an additional 164,143 shares during the period. 91.78% of the stock is currently owned by institutional investors.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA opened at $11.62 on Friday. The firm has a market cap of $665.48 million, a P/E ratio of -5.61 and a beta of 2.02. The stock’s 50-day moving average is $12.01 and its 200-day moving average is $11.85. Olema Pharmaceuticals has a one year low of $8.51 and a one year high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its 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). Equities analysts anticipate that Olema Pharmaceuticals will post -1.51 EPS for the current year.

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.