Olema Pharmaceuticals (NASDAQ:OLMA) Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Olema Pharmaceuticals from a "strong sell" to a "sell" rating in its latest research note.
• Despite that change, 11 analysts rate the stock Buy, the consensus rating is Moderate Buy with a consensus target price of $44.40.
• Shares opened near $16.10 (down ~3.2%) with a market cap of about $1.4B; insiders sold roughly 217,311 shares (~$5.97M) last quarter while institutions own about 91.78% of the stock.

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

Other research analysts have also recently issued reports about the company. Citigroup lifted their price objective on Olema Pharmaceuticals from $60.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, March 17th. HC Wainwright reduced their price objective on Olema Pharmaceuticals from $45.00 to $38.00 and set a "buy" rating on the stock in a research note on Monday, March 9th. Piper Sandler initiated coverage on Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set an "overweight" rating and a $40.00 target price on the stock. Guggenheim cut their target price on Olema Pharmaceuticals from $40.00 to $38.00 and set a "buy" rating on the stock in a research report on Tuesday, March 17th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $44.40.

Olema Pharmaceuticals Trading Down 3.2%

Shares of NASDAQ:OLMA opened at $16.10 on Friday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -8.66 and a beta of 2.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.95 and a current ratio of 9.95. The stock's 50-day simple moving average is $19.49 and its two-hundred day simple moving average is $19.48. Olema Pharmaceuticals has a 52-week low of $3.30 and a 52-week high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last announced its earnings results on Monday, March 16th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.01. Analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insiders Place Their Bets

In related news, insider Shawnte Mitchell sold 25,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total transaction of $606,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shane William Charles Kovacs sold 100,000 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the transaction, the insider directly owned 139,727 shares in the company, valued at $4,014,356.71. This represents a 41.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 217,311 shares of company stock valued at $5,965,254. 16.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in OLMA. Siren L.L.C. purchased a new position in Olema Pharmaceuticals during the fourth quarter worth approximately $82,518,000. Janus Henderson Group PLC raised its holdings in shares of Olema Pharmaceuticals by 87.1% in the 4th quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company's stock valued at $167,901,000 after buying an additional 3,124,345 shares during the period. Cormorant Asset Management LP purchased a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at $68,750,000. RA Capital Management L.P. purchased a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at $65,000,000. Finally, Bain Capital Life Sciences Investors LLC grew its stake in Olema Pharmaceuticals by 24.3% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company's stock worth $212,716,000 after purchasing an additional 1,664,687 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company's stock.

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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