Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Stock Has Consensus Price Target of $40.60 According to Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Eleven of 13 analysts rate Olema Pharmaceuticals a buy, while one rates it a hold and one a sell. The average 12-month price target is $40.60.
• Several brokerages have recently reduced their price targets, including HC Wainwright to $36, JPMorgan to $46 and Stifel to $30, despite maintaining buy or overweight ratings.
• Shares opened at $7.02, near the company’s 12-month low of $6.65 and well below its $36.26 high. Olema also reported a quarterly loss of $0.61 per share, missing the $0.55 consensus estimate.

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

OLMA has been the topic of a number of research analyst reports. Weiss Ratings raised Olema Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 21st. Wall Street Zen downgraded shares of Olema Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday, July 25th. HC Wainwright reduced their price objective on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. JPMorgan Chase & Co. decreased their target price on shares of Olema Pharmaceuticals from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Finally, Stifel Nicolaus decreased their target price on shares of Olema Pharmaceuticals from $48.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, September 14th.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 12,500 shares of the company's stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the completion of the sale, the director directly owned 715,270 shares of the company's stock, valued at approximately $8,282,826.60. This represents a 1.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.56% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of Olema Pharmaceuticals by 39.2% during the second quarter. Arizona State Retirement System now owns 14,430 shares of the company's stock worth $181,000 after purchasing an additional 4,062 shares during the period. Quantbot Technologies LP purchased a new position in Olema Pharmaceuticals during the second quarter valued at approximately $77,000. The Manufacturers Life Insurance Company grew its position in Olema Pharmaceuticals by 7.1% during the first quarter. The Manufacturers Life Insurance Company now owns 109,582 shares of the company's stock valued at $1,634,000 after purchasing an additional 7,260 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in Olema Pharmaceuticals in the 2nd quarter valued at approximately $133,000. Finally, Canada Pension Plan Investment Board acquired a new position in Olema Pharmaceuticals in the 2nd quarter valued at approximately $144,000. Institutional investors and hedge funds own 91.78% of the company's stock.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ OLMA opened at $7.02 on Wednesday. Olema Pharmaceuticals has a 12-month low of $6.65 and a 12-month high of $36.26. The company has a market cap of $614.25 million, a PE ratio of -3.31 and a beta of 2.00. The stock has a 50 day simple moving average of $9.90 and a 200-day simple moving average of $11.88. The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.01.

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 research analysts forecast that Olema Pharmaceuticals will post -2.43 EPS for the current year.

Olema Pharmaceuticals Company Profile

Olema Pharmaceuticals, Inc NASDAQ: OLMA is a clinical-stage biopharmaceutical company focused on developing therapies for women's cancers, with an emphasis on hormone receptor-positive breast cancer. The company's research is centered on oral endocrine medicines designed to target estrogen receptor signaling, an important driver of many breast tumors.

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

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