Olema Pharmaceuticals (NASDAQ:OLMA) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Olema Pharmaceuticals' stock has been given a "sell (D-)" rating by Weiss Ratings, indicating a negative outlook on its performance.
• Despite the sell rating from Weiss, other analysts have a mixed view; UBS Group and HC Wainwright have reiterated "buy" ratings with price targets of $28.00 and $22.00, respectively.
• Olema Pharmaceuticals recently missed earnings expectations with a reported loss of ($0.51) per share, falling short of the consensus estimate of ($0.43).

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Several other analysts have also recently commented on OLMA. UBS Group reiterated a "buy" rating on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Zacks Research upgraded Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. HC Wainwright restated a "buy" rating and set a $28.00 price target on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Oppenheimer restated an "outperform" rating and set a $22.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. Finally, Citigroup increased their price target on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $23.00.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $8.03 on Friday. The stock has a market cap of $551.10 million, a P/E ratio of -4.06 and a beta of 2.08. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average is $8.16 and its 200-day moving average is $5.87. Olema Pharmaceuticals has a 1-year low of $2.86 and a 1-year high of $13.51.

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

Insider Buying and Selling at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $8.33, for a total transaction of $83,300.00. Following the transaction, the director directly owned 744,140 shares of the company's stock, valued at $6,198,686.20. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 25,000 shares of company stock worth $204,841 over the last quarter. 16.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its position in shares of Olema Pharmaceuticals by 55.4% during the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company's stock worth $26,000 after purchasing an additional 2,168 shares during the period. ProShare Advisors LLC raised its position in Olema Pharmaceuticals by 21.1% in the 2nd quarter. ProShare Advisors LLC now owns 14,766 shares of the company's stock valued at $63,000 after buying an additional 2,569 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Olema Pharmaceuticals by 22.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,892 shares of the company's stock valued at $56,000 after buying an additional 2,743 shares during the last quarter. Bank of New York Mellon Corp raised its position in Olema Pharmaceuticals by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 131,994 shares of the company's stock valued at $496,000 after buying an additional 3,328 shares during the last quarter. Finally, Alps Advisors Inc. raised its position in Olema Pharmaceuticals by 9.0% in the 1st quarter. Alps Advisors Inc. now owns 50,484 shares of the company's stock valued at $190,000 after buying an additional 4,149 shares during the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

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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