Weiss Ratings Reiterates Sell (D-) Rating for Olema Pharmaceuticals (NASDAQ:OLMA)

Key Points

• Weiss Ratings has reissued a "Sell (D-)" rating for Olema Pharmaceuticals (NASDAQ:OLMA) amid a mixed sentiment from other analysts.
• Guggenheim has rated Olema with a "Buy" and a price target of $20.00, while JP Morgan Chase & Co. raised their price estimate from $28.00 to $29.00.
• Olema Pharmaceuticals' stock is currently trading at $10.73 with a market cap of approximately $736.40 million and a consensus rating of "Moderate Buy".

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently commented on OLMA. Guggenheim assumed coverage on Olema Pharmaceuticals in a report on Wednesday. They issued a "buy" rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Citigroup upped their price objective on Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Zacks Research upgraded Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $22.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.33.

Olema Pharmaceuticals Trading Up 2.8%

Shares of Olema Pharmaceuticals stock opened at $10.73 on Wednesday. The stock has a market cap of $736.40 million, a P/E ratio of -5.42 and a beta of 2.08. The stock's 50 day simple moving average is $7.15 and its 200-day simple moving average is $5.38. Olema Pharmaceuticals has a 1-year low of $2.86 and a 1-year high of $13.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.09 and a quick ratio of 11.09.

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

Insider Buying and Selling at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 3,086 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $8.32, for a total transaction of $25,675.52. Following the sale, the director owned 117,028 shares of the company's stock, valued at approximately $973,672.96. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 25,000 shares of company stock worth $204,841 over the last 90 days. 16.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Olema Pharmaceuticals

Large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its position in shares of Olema Pharmaceuticals by 55.4% during the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company's stock worth $26,000 after acquiring an additional 2,168 shares during the period. Farther Finance Advisors LLC increased its position in shares of Olema Pharmaceuticals by 602.9% during 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 increased its holdings in Olema Pharmaceuticals by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock valued at $42,000 after buying an additional 5,000 shares during the last quarter. Quarry LP purchased a new position in Olema Pharmaceuticals in the first quarter valued at $45,000. Finally, American Century Companies Inc. purchased a new position in Olema Pharmaceuticals in the second quarter valued at $54,000. Hedge funds and other 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.

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