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

Key Points

• Wall Street Zen upgraded Olema Pharmaceuticals from "strong sell" to "sell", though the stock still carries a cautious tone from that firm.
• Analyst opinions remain mixed overall: several firms have buy or overweight ratings, and MarketBeat reports a Moderate Buy consensus with an average price target of $44.10.
• Olema shares recently traded at $11.91, far below the consensus price target, after the company reported quarterly EPS of -$0.52, matching estimates.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

Other equities analysts also recently issued research reports about the stock. Wolfe Research began coverage on shares of Olema Pharmaceuticals in a report on Friday, March 27th. They issued a "peer perform" rating on the stock. Jefferies Financial Group started coverage on shares of Olema Pharmaceuticals in a report on Thursday, March 19th. They issued a "buy" rating and a $40.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Olema Pharmaceuticals in a research report on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, March 18th. Finally, The Goldman Sachs Group reduced their price objective on Olema Pharmaceuticals from $38.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, March 18th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $44.10.

Olema Pharmaceuticals Stock Performance

OLMA stock traded down $0.37 during midday trading on Friday, reaching $11.91. The stock had a trading volume of 927,028 shares, compared to its average volume of 1,877,591. The stock has a market cap of $1.04 billion, a PE ratio of -5.90 and a beta of 2.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.88 and a current ratio of 10.88. The firm has a fifty day simple moving average of $12.17 and a two-hundred day simple moving average of $18.07. Olema Pharmaceuticals has a 52-week low of $4.37 and a 52-week high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, meeting the consensus estimate of ($0.52). As a group, equities research analysts anticipate that Olema Pharmaceuticals will post -2.22 EPS for the current year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in Olema Pharmaceuticals by 9,476.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company's stock valued at $31,000 after purchasing an additional 1,232 shares during the period. Torren Management LLC purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at approximately $44,000. Russell Investments Group Ltd. acquired a new stake in Olema Pharmaceuticals in the 3rd quarter valued at $53,000. American Century Companies Inc. acquired a new stake in Olema Pharmaceuticals in the 2nd quarter valued at $54,000. Finally, Creative Planning purchased a new stake in Olema Pharmaceuticals in the 2nd quarter worth $83,000. Hedge funds and other 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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