Oppenheimer Reaffirms "Outperform" Rating for Olema Pharmaceuticals (NASDAQ:OLMA)

Key Points

• Oppenheimer has maintained an "outperform" rating for Olema Pharmaceuticals (NASDAQ:OLMA) with a price target of $22.00, suggesting a potential upside of 250.93% from its previous close.
• Analysts from JPMorgan Chase and Citigroup have recently raised their price targets for Olema, indicating positive momentum, while Zacks Research downgraded the stock to a "strong sell" rating.
• Olema Pharmaceuticals reported a loss of ($0.51) earnings per share for the last quarter, falling short of analysts' expectations of ($0.43).

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report)'s stock had its "outperform" rating restated by analysts at Oppenheimer in a research report issued on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock. Oppenheimer's price objective indicates a potential upside of 250.93% from the stock's previous close.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Citigroup upped their price target on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Zacks Research upgraded shares of Olema Pharmaceuticals to a "strong sell" rating in a research note on Monday, August 11th. Finally, The Goldman Sachs Group decreased their price target on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Olema Pharmaceuticals Stock Performance

Shares of OLMA stock traded down $0.20 on Wednesday, reaching $6.27. The stock had a trading volume of 1,252,680 shares, compared to its average volume of 855,009. The company has a quick ratio of 11.09, a current ratio of 11.09 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average is $5.00 and its two-hundred day moving average is $4.62. The firm has a market capitalization of $430.24 million, a price-to-earnings ratio of -3.17 and a beta of 1.92. Olema Pharmaceuticals has a 12 month low of $2.86 and a 12 month high of $13.93.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.08). On average, research analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several large investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its holdings in Olema Pharmaceuticals by 55.4% in 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. Farther Finance Advisors LLC raised its position in Olema Pharmaceuticals by 602.9% in the second quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company's stock worth $29,000 after acquiring an additional 5,866 shares during the period. FNY Investment Advisers LLC raised its position in Olema Pharmaceuticals by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock worth $42,000 after acquiring an additional 5,000 shares during the period. Hsbc Holdings PLC bought a new stake in Olema Pharmaceuticals in the fourth quarter worth about $58,000. Finally, Quarry LP bought a new stake in shares of Olema Pharmaceuticals in the first quarter valued at approximately $45,000. 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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