Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives Consensus Recommendation of “Buy” from Analysts

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has earned an average rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $27.00.

OLMA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Oppenheimer reiterated an “outperform” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th.

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 4,066 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.58, for a total value of $63,348.28. Following the transaction, the director now owns 752,217 shares in the company, valued at approximately $11,719,540.86. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the sale, the insider now owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Cyrus Harmon sold 4,066 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.58, for a total transaction of $63,348.28. Following the transaction, the director now directly owns 752,217 shares in the company, valued at approximately $11,719,540.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 19.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OLMA. Point72 Asset Management L.P. acquired a new position in Olema Pharmaceuticals during the second quarter worth $34,753,000. Janus Henderson Group PLC increased its holdings in shares of Olema Pharmaceuticals by 74.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock valued at $13,817,000 after acquiring an additional 521,562 shares during the last quarter. Candriam S.C.A. raised its stake in shares of Olema Pharmaceuticals by 199.9% in the 2nd quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock valued at $11,454,000 after acquiring an additional 705,655 shares in the last quarter. Great Point Partners LLC acquired a new stake in Olema Pharmaceuticals in the 2nd quarter worth approximately $8,622,000. Finally, Victory Capital Management Inc. boosted its position in Olema Pharmaceuticals by 26.9% during the second quarter. Victory Capital Management Inc. now owns 774,792 shares of the company’s stock worth $8,383,000 after purchasing an additional 164,143 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

Shares of OLMA opened at $11.73 on Tuesday. Olema Pharmaceuticals has a 12-month low of $8.51 and a 12-month high of $17.79. The stock has a market capitalization of $656.11 million, a P/E ratio of -5.81 and a beta of 2.02. The firm’s 50 day moving average is $12.13 and its 200-day moving average is $11.78.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.54). As a group, equities research analysts forecast that Olema Pharmaceuticals will post -1.51 EPS for the current fiscal year.

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.