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

Key Points

• Olema Pharmaceuticals has received a consensus recommendation of "Moderate Buy" from analysts, with an average 12-month target price of $24.00.
• Recent insider trading included Director Cyrus Harmon selling 10,000 shares at an average price of $8.33, decreasing his position by 1.33%.
• Institutional investors now own 91.78% of Olema Pharmaceuticals shares, indicating strong institutional interest in the company.

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $24.00.

A number of research analysts have recently commented on the company. Oppenheimer reaffirmed an "outperform" rating and set a $22.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, September 3rd. Zacks Research upgraded shares of Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Citigroup lifted their price objective on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Olema Pharmaceuticals in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, August 14th.

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 10,000 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $8.33, for a total transaction of $83,300.00. Following the transaction, the director owned 744,140 shares of the company's stock, valued at approximately $6,198,686.20. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 25,000 shares of company stock worth $204,841. Company insiders own 16.36% of the company's stock.

Institutional Trading of Olema Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans acquired a new stake in Olema Pharmaceuticals during the 2nd quarter valued at approximately $308,000. Bridgeway Capital Management LLC acquired a new stake in Olema Pharmaceuticals during the 2nd quarter valued at approximately $213,000. Birchview Capital LP acquired a new stake in Olema Pharmaceuticals during the 2nd quarter valued at approximately $571,000. Ameriprise Financial Inc. lifted its stake in Olema Pharmaceuticals by 193.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company's stock valued at $4,996,000 after acquiring an additional 773,064 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Olema Pharmaceuticals by 46.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,442 shares of the company's stock valued at $96,000 after acquiring an additional 7,146 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Olema Pharmaceuticals Price Performance

OLMA stock opened at $11.10 on Friday. Olema Pharmaceuticals has a 52 week low of $2.86 and a 52 week high of $13.51. The company has a quick ratio of 11.09, a current ratio of 11.09 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $6.80 and a two-hundred day simple moving average of $5.25. The firm has a market capitalization of $761.79 million, a P/E ratio of -5.61 and a beta of 2.08.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.08). Analysts anticipate that Olema Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

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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