Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Olema Pharmaceuticals a “Moderate Buy”: Eleven of 13 analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $40.60.
• Recent analyst actions were mixed but generally constructive: JPMorgan and Stifel lowered their price targets while maintaining overweight or buy ratings, and Citigroup reiterated a buy rating with a $59 target.
• Olema reported a quarterly loss of $0.61 per share, missing estimates by $0.06. The stock opened at $9.82, well below its 52-week high of $36.26, while institutional investors own approximately 91.78% of shares.

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $40.60.

Several equities analysts recently issued reports on OLMA shares. Wall Street Zen cut shares of Olema Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. dropped their price target on Olema Pharmaceuticals from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Citigroup decreased their price target on shares of Olema Pharmaceuticals to $59.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings lowered shares of Olema Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, August 31st. Finally, Stifel Nicolaus lowered their target price on Olema Pharmaceuticals from $48.00 to $30.00 and set a "buy" rating on the stock in a report on Monday.

Olema Pharmaceuticals Stock Performance

Shares of OLMA stock opened at $9.82 on Friday. Olema Pharmaceuticals has a 52-week low of $6.65 and a 52-week high of $36.26. The company has a quick ratio of 8.86, a current ratio of 8.86 and a debt-to-equity ratio of 0.01. The stock has a market cap of $859.25 million, a PE ratio of -4.63 and a beta of 1.98. The business has a 50-day simple moving average of $11.00 and a 200-day simple moving average of $12.97.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.06). On average, equities analysts expect that Olema Pharmaceuticals will post -2.43 EPS for the current year.

Insider Activity

In other news, Director Cyrus Harmon sold 12,500 shares of Olema Pharmaceuticals stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total transaction of $144,750.00. Following the transaction, the director owned 715,270 shares in the company, valued at $8,282,826.60. The trade was a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Olema Pharmaceuticals by 9,476.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company's stock valued at $31,000 after buying an additional 1,232 shares during the period. ProShare Advisors LLC raised its position in shares of Olema Pharmaceuticals by 13.8% during the 4th quarter. ProShare Advisors LLC now owns 14,367 shares of the company's stock valued at $359,000 after buying an additional 1,740 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Olema Pharmaceuticals in the fourth quarter valued at approximately $88,000. Arizona State Retirement System lifted its holdings in Olema Pharmaceuticals by 39.2% in the second quarter. Arizona State Retirement System now owns 14,430 shares of the company's stock valued at $181,000 after acquiring an additional 4,062 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Olema Pharmaceuticals in the second quarter worth approximately $77,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for women with cancer, particularly hormone receptor-positive breast cancer. The company's research is centered on treatments designed to address the biological drivers of tumor growth and provide new options for patients with advanced or metastatic disease.

Olema's lead investigational product is palazestrant, an oral selective estrogen receptor degrader (SERD) being evaluated for the treatment of estrogen receptor-positive, HER2-negative advanced or metastatic breast cancer.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.