Wolfe Research Initiates Coverage on Olema Pharmaceuticals (NASDAQ:OLMA)

Key Points

• Wolfe Research initiated coverage on Olema with a "peer perform" rating, while the broader analyst community leans positive—11 Buys, 2 Holds and 1 Sell—giving a consensus rating of "Moderate Buy" and a consensus price target of $44.40.
• Company insiders sold a total of 217,311 shares (about $5.97M) in the last quarter, including large blocks by David C. Myles and Shane Kovacs, reducing their stakes materially.
• Olema is a clinical‑stage biopharma whose lead drug, OP‑1250, is in Phase 3 for ER+/HER2‑ breast cancer; the firm has a market cap of roughly $1.23 billion and a negative trailing PE.

Stock analysts at Wolfe Research assumed coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) in a report released on Friday,Benzinga reports. The firm set a "peer perform" rating on the stock.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, March 18th. Citigroup upped their target price on Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. UBS Group started coverage on Olema Pharmaceuticals in a report on Wednesday, January 7th. They set a "buy" rating and a $45.00 price target on the stock. Guggenheim reduced their price objective on shares of Olema Pharmaceuticals from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Olema Pharmaceuticals in a report on Thursday, January 22nd. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.40.

Olema Pharmaceuticals Stock Down 0.4%

OLMA stock opened at $14.12 on Friday. The company has a current ratio of 9.95, a quick ratio of 9.95 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals has a 1 year low of $2.86 and a 1 year high of $36.26. The company has a fifty day simple moving average of $21.90 and a 200 day simple moving average of $18.93. The firm has a market cap of $1.23 billion, a PE ratio of -7.59 and a beta of 1.92.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its earnings results on Monday, March 16th. The company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.01. Sell-side analysts anticipate that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David C. Myles sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $27.60, for a total value of $1,380,000.00. Following the completion of the sale, the insider directly owned 542,761 shares of the company's stock, valued at approximately $14,980,203.60. This represents a 8.44% 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 this hyperlink. Also, insider Shane William Charles Kovacs sold 100,000 shares of the firm's stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the sale, the insider owned 139,727 shares in the company, valued at approximately $4,014,356.71. The trade was a 41.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 217,311 shares of company stock worth $5,965,254. Corporate insiders own 16.36% of the company's stock.

Institutional Trading of Olema Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Siren L.L.C. acquired a new position in shares of Olema Pharmaceuticals during the fourth quarter valued at about $82,518,000. Janus Henderson Group PLC grew its position in Olema Pharmaceuticals by 87.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company's stock worth $167,901,000 after buying an additional 3,124,345 shares in the last quarter. Cormorant Asset Management LP bought a new position in Olema Pharmaceuticals during the fourth quarter valued at about $68,750,000. RA Capital Management L.P. bought a new position in Olema Pharmaceuticals during the fourth quarter valued at about $65,000,000. Finally, Bain Capital Life Sciences Investors LLC raised its holdings in Olema Pharmaceuticals by 24.3% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company's stock valued at $212,716,000 after acquiring an additional 1,664,687 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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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