Olema Pharmaceuticals (NASDAQ:OLMA) Now Covered by Wolfe Research

Wolfe Research initiated coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research note published on Friday morning, Marketbeat.com reports. The firm issued a peer perform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler began coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They set an “overweight” rating and a $40.00 target price for the company. The Goldman Sachs Group decreased their price target on Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. TD Cowen reissued a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, March 9th. Stifel Nicolaus initiated coverage on Olema Pharmaceuticals in a research report on Wednesday, February 11th. They set a “buy” rating and a $48.00 price objective for the company. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.40.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $13.67 on Friday. The firm has a 50 day moving average of $21.63 and a 200-day moving average of $18.97. The stock has a market capitalization of $1.19 billion, a PE ratio of -7.35 and a beta of 1.92. 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 12 month low of $2.86 and a 12 month high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01. On average, equities research analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Activity at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, insider Shawnte Mitchell sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $24.25, for a total value of $606,250.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cyrus Harmon sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $26.88, for a total transaction of $268,800.00. Following the sale, the director directly owned 727,770 shares in the company, valued at approximately $19,562,457.60. The trade was a 1.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 217,311 shares of company stock worth $5,965,254. Corporate insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Olema Pharmaceuticals by 9,476.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock valued at $31,000 after purchasing an additional 1,232 shares during the last quarter. Torren Management LLC bought a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth about $44,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth about $88,000. Nisa Investment Advisors LLC increased its stake in shares of Olema Pharmaceuticals by 14.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock valued at $94,000 after buying an additional 477 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Olema Pharmaceuticals by 44.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock valued at $96,000 after buying an additional 1,169 shares during the period. Institutional investors own 91.78% of the company’s stock.

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.