Olema Pharmaceuticals (NASDAQ:OLMA) Receives "Outperform" Rating from Oppenheimer

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 reissued by investment analysts at Oppenheimer in a research note issued on Wednesday,Benzinga reports. They presently have a $22.00 price target on the stock. Oppenheimer's price objective suggests a potential upside of 190.24% from the stock's current price.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Zacks Research raised shares of Olema Pharmaceuticals to a "strong sell" rating in a report on Monday, August 11th. Citigroup increased their price target on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Olema Pharmaceuticals Stock Performance

Shares of OLMA traded down $0.73 during mid-day trading on Wednesday, hitting $7.58. 1,465,528 shares of the company's stock were exchanged, compared to its average volume of 894,160. Olema Pharmaceuticals has a fifty-two week low of $2.86 and a fifty-two week high of $13.93. The firm has a market capitalization of $520.22 million, a P/E ratio of -3.83 and a beta of 1.92. The business's 50 day moving average is $5.14 and its two-hundred day moving average is $4.66. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Paradigm Biocapital Advisors LP increased its stake in shares of Olema Pharmaceuticals by 32.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company's stock worth $42,588,000 after purchasing an additional 1,801,370 shares in the last quarter. MPM Bioimpact LLC increased its stake in shares of Olema Pharmaceuticals by 0.6% during the 1st quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company's stock worth $11,018,000 after purchasing an additional 17,896 shares in the last quarter. Lightspeed Management Company L.L.C. purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter worth approximately $11,257,000. Wellington Management Group LLP increased its stake in shares of Olema Pharmaceuticals by 52.1% during the 4th quarter. Wellington Management Group LLP now owns 1,525,484 shares of the company's stock worth $8,839,000 after purchasing an additional 522,799 shares in the last quarter. Finally, Woodline Partners LP increased its stake in shares of Olema Pharmaceuticals by 8.9% during the 1st quarter. Woodline Partners LP now owns 1,477,907 shares of the company's stock worth $5,557,000 after purchasing an additional 120,428 shares in the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

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.