HC Wainwright Reaffirms Buy Rating for Olema Pharmaceuticals (NASDAQ:OLMA)

HC Wainwright reaffirmed their buy rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA - Free Report) in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a $30.00 target price on the stock.

A number of other brokerages also recently issued reports on OLMA. Oppenheimer reiterated an "outperform" rating and set a $25.00 price target (down previously from $30.00) on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. JPMorgan Chase & Co. cut their price target on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, March 28th.

Olema Pharmaceuticals Price Performance

Shares of OLMA traded up $0.33 during midday trading on Monday, hitting $5.62. 983,181 shares of the company traded hands, compared to its average volume of 862,401. The stock has a 50-day moving average of $4.22 and a 200-day moving average of $6.62. Olema Pharmaceuticals has a one year low of $2.86 and a one year high of $16.62. The firm has a market cap of $384.03 million, a P/E ratio of -2.57 and a beta of 2.10.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.12. Sell-side analysts forecast that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. KLP Kapitalforvaltning AS purchased a new position in shares of Olema Pharmaceuticals in the fourth quarter worth about $30,000. Hsbc Holdings PLC bought a new position in shares of Olema Pharmaceuticals in the fourth quarter worth approximately $58,000. Teacher Retirement System of Texas bought a new stake in Olema Pharmaceuticals during the 4th quarter valued at $60,000. Virtus ETF Advisers LLC boosted its position in Olema Pharmaceuticals by 43.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company's stock valued at $62,000 after buying an additional 3,185 shares during the period. Finally, Vontobel Holding Ltd. purchased a new stake in Olema Pharmaceuticals during the 4th quarter valued at $62,000. 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.