Olema Pharmaceuticals’ (OLMA) Outperform Rating Reiterated at Oppenheimer

Oppenheimer restated their outperform rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $25.00 price objective on the stock, down from their previous price objective of $30.00.

Separately, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday.

Olema Pharmaceuticals Trading Up 2.7 %

NASDAQ OLMA opened at $4.23 on Wednesday. The firm’s 50 day simple moving average is $5.09 and its 200 day simple moving average is $8.35. The firm has a market capitalization of $242.37 million, a price-to-earnings ratio of -1.93 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 issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.12. On average, equities research analysts forecast that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was acquired at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the transaction, the insider now owns 7,800,000 shares of the company’s stock, valued at $44,928,000. This trade represents a 4.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bain Capital Life Sciences Investors LLC acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $43,551,000. Lightspeed Management Company L.L.C. acquired a new stake in shares of Olema Pharmaceuticals during the 4th quarter worth approximately $11,257,000. Paradigm Biocapital Advisors LP increased its stake in shares of Olema Pharmaceuticals by 32.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company’s stock valued at $42,588,000 after acquiring an additional 1,801,370 shares in the last quarter. Avoro Capital Advisors LLC acquired a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at $9,631,000. Finally, Millennium Management LLC boosted its stake in Olema Pharmaceuticals by 1,154.4% during the fourth quarter. Millennium Management LLC now owns 979,219 shares of the company’s stock worth $5,709,000 after acquiring an additional 901,159 shares in the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

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.