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

Key Points

• Wall Street Zen downgraded Olema Pharmaceuticals (NASDAQ:OLMA) from a "sell" to a "strong sell", despite the stock's MarketBeat consensus rating of "Moderate Buy" (11 Buy, 2 Hold, 1 Sell) and a consensus target price of $44.40.
• Shares opened at $16.82 with a market cap of $1.47 billion and a 52-week range of $3.89–$36.26; insiders have sold 50,000 shares (~$1.22M) in the last 90 days and now own 16.36% of the company.

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

Several other analysts have also commented on OLMA. JPMorgan Chase & Co. increased their price target on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an "overweight" rating in a research report on Wednesday, March 18th. TD Cowen reiterated a "buy" rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Oppenheimer reiterated an "outperform" rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Stifel Nicolaus initiated coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, February 11th. They issued a "buy" rating and a $48.00 price target on the stock. Finally, Piper Sandler started coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, January 7th. They issued an "overweight" rating and a $40.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Olema Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.40.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock opened at $16.82 on Friday. The company's 50 day moving average is $18.56 and its two-hundred day moving average is $19.81. The firm has a market cap of $1.47 billion, a PE ratio of -9.04 and a beta of 2.17. Olema Pharmaceuticals has a 52-week low of $3.89 and a 52-week high of $36.26. The company has a quick ratio of 9.95, a current ratio of 9.95 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.01. On average, research analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $26.88, for a total transaction of $268,800.00. Following the completion of the transaction, the director owned 727,770 shares of the company's stock, valued at approximately $19,562,457.60. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawnte Mitchell sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total transaction of $606,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,000 shares of company stock valued at $1,220,200 in the last ninety days. 16.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of OLMA. AQR Capital Management LLC acquired a new position in Olema Pharmaceuticals during the first quarter worth approximately $172,000. Goldman Sachs Group Inc. increased its position in Olema Pharmaceuticals by 93.6% during the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company's stock worth $2,787,000 after purchasing an additional 358,412 shares during the last quarter. Jane Street Group LLC increased its position in Olema Pharmaceuticals by 216.8% during the first quarter. Jane Street Group LLC now owns 138,552 shares of the company's stock worth $521,000 after purchasing an additional 94,815 shares during the last quarter. Geode Capital Management LLC increased its position in Olema Pharmaceuticals by 22.4% during the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company's stock worth $5,650,000 after purchasing an additional 242,997 shares during the last quarter. Finally, Creative Planning acquired a new position in Olema Pharmaceuticals during the second quarter worth approximately $83,000. Institutional investors and hedge funds 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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