Olema Pharmaceuticals (NASDAQ:OLMA) Shares Up 8.4% – Should You Buy?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) was up 8.4% on Tuesday . The company traded as high as $14.62 and last traded at $14.55. Approximately 142,359 shares were traded during trading, a decline of 91% from the average daily volume of 1,670,763 shares. The stock had previously closed at $13.42.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OLMA. HC Wainwright cut their target price on Olema Pharmaceuticals from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. JPMorgan Chase & Co. increased their price target on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. The Goldman Sachs Group lowered their price target on shares of Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Thursday, January 22nd. Finally, Piper Sandler initiated coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, January 7th. They set an “overweight” rating and a $40.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.40.

Olema Pharmaceuticals Trading Up 1.4%

The company has a 50 day moving average of $20.90 and a two-hundred day moving average of $19.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.95 and a current ratio of 9.95. The stock has a market capitalization of $1.32 billion, a PE ratio of -8.13 and a beta of 2.17.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results on Monday, March 16th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.01. Sell-side analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Insider Activity at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $26.88, for a total value of $268,800.00. Following the completion of the transaction, the director owned 727,770 shares of the company’s stock, valued at approximately $19,562,457.60. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David C. Myles sold 50,000 shares of Olema Pharmaceuticals stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $27.60, for a total transaction of $1,380,000.00. Following the sale, the insider owned 542,761 shares of the company’s stock, valued at $14,980,203.60. The trade was a 8.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 217,311 shares of company stock valued at $5,965,254. Company insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of large investors have recently made changes to their positions in OLMA. Diadema Partners LP lifted its position in Olema Pharmaceuticals by 153.7% during the 2nd quarter. Diadema Partners LP now owns 253,657 shares of the company’s stock worth $1,081,000 after acquiring an additional 153,657 shares during the period. Candriam S.C.A. raised its stake in shares of Olema Pharmaceuticals by 46.9% in the third quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock worth $12,235,000 after purchasing an additional 399,273 shares during the last quarter. Birchview Capital LP acquired a new stake in shares of Olema Pharmaceuticals during the second quarter worth about $571,000. Hennion & Walsh Asset Management Inc. boosted its position in Olema Pharmaceuticals by 83.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 447,046 shares of the company’s stock valued at $11,176,000 after buying an additional 202,970 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. purchased a new stake in Olema Pharmaceuticals in the third quarter valued at approximately $8,361,000. 91.78% of the stock is owned by hedge funds and other institutional investors.

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.