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

Key Points

• Wall Street Zen upgraded Olema Pharmaceuticals (OLMA) from a "strong sell" to a "sell," though the analyst consensus remains a Moderate Buy (11 Buys, 2 Holds, 1 Sell) with a $44.40 average target price.
• Shares opened at $15.53 (1‑year range $3.89–$36.26) and the company is unprofitable (negative P/E); Olema reported Q1 EPS of ($0.50) versus consensus ($0.51) and has a market cap of about $1.35 billion.
• Insider Shawnte Mitchell sold 25,000 shares at $24.25, insiders hold 16.36% of stock, and institutional ownership is high at 91.78% with recent stake increases from firms like Goldman Sachs and Jane Street.

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 report released on Monday.

OLMA has been the subject of a number of other reports. The Goldman Sachs Group lowered their target price on Olema Pharmaceuticals from $38.00 to $27.00 and set a "buy" rating for the company in a report on Wednesday, March 18th. UBS Group started coverage on Olema Pharmaceuticals in a report on Wednesday, January 7th. They issued a "buy" rating and a $45.00 target price for the company. Jefferies Financial Group started coverage on Olema Pharmaceuticals in a report on Thursday, March 19th. They issued a "buy" rating and a $40.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Olema Pharmaceuticals in a report on Tuesday, April 21st. Finally, Oppenheimer reiterated an "outperform" rating on shares of Olema Pharmaceuticals in a report on Monday, March 9th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Olema Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $44.40.

Olema Pharmaceuticals Price Performance

Shares of OLMA opened at $15.53 on Monday. Olema Pharmaceuticals has a 1 year low of $3.89 and a 1 year high of $36.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.95 and a quick ratio of 9.95. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -8.35 and a beta of 2.17. The business has a 50-day moving average of $17.80 and a 200-day moving average of $20.05.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its quarterly earnings data on Monday, March 16th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.51) by $0.01. As a group, equities research analysts anticipate that Olema Pharmaceuticals will post -2.17 earnings per share for the current year.

Insider Buying and Selling

In other Olema Pharmaceuticals news, insider Shawnte Mitchell sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total value of $606,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 16.36% of the company's stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in OLMA. AQR Capital Management LLC acquired a new stake in Olema Pharmaceuticals in the first quarter valued at approximately $172,000. Goldman Sachs Group Inc. grew its stake in Olema Pharmaceuticals by 93.6% in the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company's stock valued at $2,787,000 after acquiring an additional 358,412 shares during the period. Jane Street Group LLC grew its stake in Olema Pharmaceuticals by 216.8% in the first quarter. Jane Street Group LLC now owns 138,552 shares of the company's stock valued at $521,000 after acquiring an additional 94,815 shares during the period. Geode Capital Management LLC grew its stake in Olema Pharmaceuticals by 22.4% in the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company's stock valued at $5,650,000 after acquiring an additional 242,997 shares during the period. Finally, Creative Planning acquired a new stake in Olema Pharmaceuticals in the second quarter valued at approximately $83,000. Institutional investors and hedge funds 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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