Olema Pharmaceuticals (NASDAQ:OLMA) Earns “Buy” Rating from HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright also issued estimates for Olema Pharmaceuticals’ FY2029 earnings at ($2.41) EPS.

Olema Pharmaceuticals Price Performance

Shares of OLMA opened at $4.12 on Wednesday. The firm’s 50 day simple moving average is $5.11 and its 200 day simple moving average is $8.40. The company has a market capitalization of $236.07 million, a P/E ratio of -1.88 and a beta of 2.11. Olema Pharmaceuticals has a 1-year low of $3.94 and a 1-year high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.12. On average, equities analysts anticipate that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Buying and Selling at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of Olema Pharmaceuticals stock in a transaction on Wednesday, January 8th. The shares were acquired at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the transaction, the insider now directly owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. The trade was a 4.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bain Capital Life Sciences Investors LLC bought a new position in Olema Pharmaceuticals during the fourth quarter valued at approximately $43,551,000. Paradigm Biocapital Advisors LP grew its holdings in shares of Olema Pharmaceuticals by 32.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company’s stock worth $42,588,000 after purchasing an additional 1,801,370 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Olema Pharmaceuticals by 14.8% in the third quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company’s stock worth $44,027,000 after purchasing an additional 475,447 shares during the last quarter. MPM Bioimpact LLC grew its holdings in shares of Olema Pharmaceuticals by 8.7% in the fourth quarter. MPM Bioimpact LLC now owns 2,912,550 shares of the company’s stock worth $16,980,000 after purchasing an additional 231,954 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Olema Pharmaceuticals by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 2,685,009 shares of the company’s stock worth $15,654,000 after purchasing an additional 152,117 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors.

About Olema Pharmaceuticals

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.