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

Key Points

• Analysts have given Olema a consensus recommendation of “Moderate Buy” from 14 brokerages (11 buy, 2 hold, 1 sell) with an average 12‑month price target of $44.40 and cited targets up to $62 (Citigroup).
• Institutional investors own 91.78% of the stock, with notable inflows including Goldman Sachs raising its stake 93.6% to 741,329 shares and Jane Street increasing its holdings 216.8%; AQR and Creative Planning also initiated positions.
• Insider Shawnte Mitchell sold 25,000 shares at an average $24.25 (insiders own 16.36%); the stock opened at $16.63, has a $1.45B market cap and a 12‑month range of $3.89–$36.26, and reported quarterly EPS of ($0.50), beating estimates by $0.01.

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fourteen brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $44.40.

A number of research firms have issued reports on OLMA. Citigroup raised their price target on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, March 17th. UBS Group began coverage on shares of Olema Pharmaceuticals in a report on Wednesday, January 7th. They issued a "buy" rating and a $45.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Olema Pharmaceuticals in a report on Thursday, March 19th. They issued a "buy" rating and a $40.00 price target for the company. Stifel Nicolaus began coverage on shares of Olema Pharmaceuticals in a report on Wednesday, February 11th. They set a "buy" rating and a $48.00 target price for the company. Finally, Guggenheim decreased their target price on shares of Olema Pharmaceuticals from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Tuesday, March 17th.

Insider Transactions at Olema Pharmaceuticals

In related news, insider Shawnte Mitchell sold 25,000 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $24.25, for a total transaction of $606,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in Olema Pharmaceuticals in the first quarter valued at $172,000. Goldman Sachs Group Inc. increased its holdings in Olema Pharmaceuticals by 93.6% in the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company's stock valued at $2,787,000 after buying an additional 358,412 shares in the last quarter. Jane Street Group LLC increased its holdings in Olema Pharmaceuticals by 216.8% in the first quarter. Jane Street Group LLC now owns 138,552 shares of the company's stock valued at $521,000 after buying an additional 94,815 shares in the last quarter. Geode Capital Management LLC increased its holdings in Olema Pharmaceuticals by 22.4% in the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company's stock valued at $5,650,000 after buying an additional 242,997 shares in the last quarter. Finally, Creative Planning purchased a new position in Olema Pharmaceuticals in the second quarter valued at $83,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Olema Pharmaceuticals Trading Up 0.3%

NASDAQ OLMA opened at $16.63 on Wednesday. The company has a fifty day simple moving average of $18.26 and a two-hundred day simple moving average of $19.95. The stock has a market cap of $1.45 billion, a P/E ratio of -8.94 and a beta of 2.17. Olema Pharmaceuticals has a 12-month low of $3.89 and a 12-month high of $36.26. The company has a current ratio of 9.95, a quick ratio of 9.95 and a debt-to-equity ratio of 0.01.

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

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.

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