HC Wainwright Reaffirms Buy Rating for Olema Pharmaceuticals (NASDAQ:OLMA)

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 197.03% from the company’s previous close. HC Wainwright also issued estimates for Olema Pharmaceuticals’ Q4 2024 earnings at ($0.64) EPS, FY2024 earnings at ($2.34) EPS, FY2025 earnings at ($2.82) EPS, FY2026 earnings at ($2.95) EPS, FY2027 earnings at ($2.83) EPS and FY2028 earnings at ($2.43) EPS.

OLMA has been the subject of several other reports. Oppenheimer reiterated an “outperform” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $27.00.

Olema Pharmaceuticals Stock Down 12.0 %

NASDAQ:OLMA opened at $10.10 on Wednesday. Olema Pharmaceuticals has a twelve month low of $8.51 and a twelve month high of $17.23. The firm has a market capitalization of $578.73 million, a price-to-earnings ratio of -4.61 and a beta of 2.02. The stock’s 50 day moving average price is $12.05 and its two-hundred day moving average price is $11.96.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01). As a group, analysts anticipate that Olema Pharmaceuticals will post -2.32 earnings per share for the current year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank increased its position in shares of Olema Pharmaceuticals by 8.8% in the first quarter. Swiss National Bank now owns 70,300 shares of the company’s stock worth $796,000 after purchasing an additional 5,700 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Olema Pharmaceuticals in the 1st quarter valued at about $176,000. Entropy Technologies LP acquired a new position in shares of Olema Pharmaceuticals in the 1st quarter valued at approximately $161,000. EntryPoint Capital LLC boosted its position in shares of Olema Pharmaceuticals by 949.9% during the 1st quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock worth $164,000 after acquiring an additional 13,146 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Olema Pharmaceuticals by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock valued at $298,000 after acquiring an additional 1,486 shares during the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

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.