Jennison Associates LLC Takes Position in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Jennison Associates LLC bought 963,997 shares (~$24.1 million) of Olema Pharmaceuticals in Q4, representing about 1.40% ownership, and institutional investors now own roughly 91.78% of the stock.
• Wall Street sentiment is largely positive—eleven analysts rate the stock Buy, two Hold and one Sell—resulting in a consensus Moderate Buy rating with a target price of $44.40.
• Olema is a clinical-stage biopharma focused on women's cancers, with lead candidate OP-1250 in Phase 3 for ER+/HER2- breast cancer, which is central to its valuation and growth prospects.

Jennison Associates LLC purchased a new stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 963,997 shares of the company's stock, valued at approximately $24,100,000. Jennison Associates LLC owned approximately 1.40% of Olema Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Torren Management LLC bought a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at about $44,000. Russell Investments Group Ltd. bought a new stake in shares of Olema Pharmaceuticals in the third quarter valued at about $53,000. American Century Companies Inc. bought a new stake in shares of Olema Pharmaceuticals in the second quarter valued at about $54,000. Creative Planning bought a new stake in shares of Olema Pharmaceuticals in the second quarter valued at about $83,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Olema Pharmaceuticals by 14.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company's stock valued at $94,000 after purchasing an additional 477 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors.

Olema Pharmaceuticals Trading Down 0.6%

Olema Pharmaceuticals stock opened at $14.32 on Friday. The firm has a 50-day moving average of $17.14 and a 200-day moving average of $20.03. Olema Pharmaceuticals, Inc. has a one year low of $3.89 and a one year high of $36.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.95 and a quick ratio of 9.95. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -7.70 and a beta of 2.06.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The company reported ($0.50) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.01. On average, equities analysts expect that Olema Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, February 11th. They set a "buy" rating and a $48.00 price objective for the company. HC Wainwright reduced their price objective on shares of Olema Pharmaceuticals from $45.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, March 9th. TD Cowen restated a "buy" rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Jefferies Financial Group assumed coverage on shares of Olema Pharmaceuticals in a research note on Thursday, March 19th. They set a "buy" rating and a $40.00 price objective for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Olema Pharmaceuticals in a research note on Tuesday, April 21st. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Olema Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.40.

Insider Activity

In other news, insider Shawnte Mitchell sold 25,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $24.25, for a total value of $606,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 16.36% of the company's stock.

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.

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