Olema Pharmaceuticals (NASDAQ:OLMA) Downgraded by Wall Street Zen to "Strong Sell"

Key Points

• Wall Street Zen downgraded Olema Pharmaceuticals from “sell” to “strong sell,” adding to a mixed analyst backdrop around the stock.
• Despite that downgrade, the broader analyst consensus remains Moderate Buy, with 11 Buy ratings, 2 Hold ratings, and 1 Sell rating, and an average target price of $44.10.
• Olema shares opened at $11.70, well below the stock’s 200-day moving average of $17.04 and its 12-month high of $36.26, while the company continues to report losses and is focused on advancing its breast cancer drug pipeline.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday.

A number of other equities analysts have also commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Olema Pharmaceuticals in a report on Friday, July 17th. HC Wainwright reiterated a "buy" rating on shares of Olema Pharmaceuticals in a research note on Friday, May 22nd. Wolfe Research began coverage on Olema Pharmaceuticals in a report on Friday, March 27th. They set a "peer perform" rating on the stock. Finally, Guggenheim cut their target price on Olema Pharmaceuticals from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $44.10.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA opened at $11.70 on Friday. The firm has a market cap of $1.02 billion, a P/E ratio of -5.79 and a beta of 2.00. The company has a quick ratio of 10.88, a current ratio of 10.88 and a debt-to-equity ratio of 0.01. The company's 50 day moving average is $11.61 and its 200-day moving average is $17.04. Olema Pharmaceuticals has a 12-month low of $4.47 and a 12-month high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, hitting the consensus estimate of ($0.52). Sell-side analysts predict that Olema Pharmaceuticals will post -2.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in Olema Pharmaceuticals by 9,476.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company's stock valued at $31,000 after purchasing an additional 1,232 shares in the last quarter. Torren Management LLC purchased a new position in Olema Pharmaceuticals in the 4th quarter worth approximately $44,000. Russell Investments Group Ltd. purchased a new position in Olema Pharmaceuticals in the 3rd quarter worth approximately $53,000. American Century Companies Inc. bought a new position in shares of Olema Pharmaceuticals in the 2nd quarter worth $54,000. Finally, Creative Planning bought a new position in shares of Olema Pharmaceuticals in the 2nd quarter worth $83,000. Hedge funds and other institutional investors own 91.78% 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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