Brokerages Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) PT at $40.60

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $40.60.

A number of research firms have recently weighed in on OLMA. HC Wainwright dropped their target price on Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. JPMorgan Chase & Co. decreased their price target on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Citigroup lowered their price target on Olema Pharmaceuticals to $59.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings upgraded Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Finally, Wall Street Zen cut Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 12,500 shares of the stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the completion of the sale, the director owned 715,270 shares in the company, valued at $8,282,826.60. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jupiter Topco LLC bought a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $88,803,000. BlackRock Inc. purchased a new position in shares of Olema Pharmaceuticals in the 2nd quarter worth approximately $84,001,000. Cormorant Asset Management LP bought a new position in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $68,750,000. Siren L.L.C. grew its holdings in shares of Olema Pharmaceuticals by 44.1% in the first quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock valued at $70,926,000 after acquiring an additional 1,456,249 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Olema Pharmaceuticals by 89.0% during the first quarter. Jennison Associates LLC now owns 1,822,123 shares of the company’s stock valued at $27,168,000 after acquiring an additional 858,126 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Stock Down 8.4%

Shares of NASDAQ OLMA opened at $8.83 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.86 and a quick ratio of 8.86. The company has a 50-day moving average price of $10.85 and a 200-day moving average price of $12.60. The stock has a market capitalization of $772.62 million, a P/E ratio of -4.17 and a beta of 1.98. Olema Pharmaceuticals has a 1 year low of $6.65 and a 1 year high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.06). On average, equities research analysts forecast that Olema Pharmaceuticals will post -2.43 EPS for the current fiscal year.

Olema Pharmaceuticals Company Profile

Olema Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for women with cancer, particularly hormone receptor-positive breast cancer. The company’s research is centered on treatments designed to address the biological drivers of tumor growth and provide new options for patients with advanced or metastatic disease.

Olema’s lead investigational product is palazestrant, an oral selective estrogen receptor degrader (SERD) being evaluated for the treatment of estrogen receptor-positive, HER2-negative advanced or metastatic breast cancer.