Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Up 6.2% – Should You Buy?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) shares shot up 6.2% during mid-day trading on Thursday . The company traded as high as $10.74 and last traded at $10.72. 114,262 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 732,508 shares. The stock had previously closed at $10.09.

Wall Street Analyst Weigh In

OLMA has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Oppenheimer reaffirmed 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 reissued a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $27.00.

Olema Pharmaceuticals Price Performance

The stock has a market cap of $593.06 million, a price-to-earnings ratio of -4.62 and a beta of 1.92. The firm has a 50 day simple moving average of $11.14 and a two-hundred day simple moving average of $11.90.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its position in Olema Pharmaceuticals by 105.0% during the 3rd quarter. Barclays PLC now owns 94,915 shares of the company’s stock worth $1,133,000 after buying an additional 48,614 shares in the last quarter. Conway Capital Management Inc. bought a new stake in Olema Pharmaceuticals during the third quarter worth about $119,000. XTX Topco Ltd raised its holdings in Olema Pharmaceuticals by 103.4% during the third quarter. XTX Topco Ltd now owns 25,332 shares of the company’s stock worth $302,000 after acquiring an additional 12,878 shares in the last quarter. EP Wealth Advisors LLC boosted its position in Olema Pharmaceuticals by 5.2% during the third quarter. EP Wealth Advisors LLC now owns 48,655 shares of the company’s stock valued at $581,000 after purchasing an additional 2,407 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Olema Pharmaceuticals by 10.8% in the third quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock valued at $11,972,000 after purchasing an additional 97,428 shares in the last quarter. 91.78% of the stock is 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.