Olema Pharmaceuticals (NASDAQ:OLMA) Upgraded to Sell at Wall Street Zen

Olema Pharmaceuticals (NASDAQ:OLMA) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Sunday.

OLMA has been the subject of several other reports. JPMorgan Chase & Co. boosted their price target on Olema Pharmaceuticals from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Wolfe Research started coverage on Olema Pharmaceuticals in a report on Friday, March 27th. They issued a “peer perform” rating on the stock. The Goldman Sachs Group lowered their target price on shares of Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Citigroup upped their target price on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Finally, Guggenheim reduced their target price on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Olema Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $44.10.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock traded down $0.37 during midday trading on Friday, reaching $11.91. The company had a trading volume of 927,028 shares, compared to its average volume of 1,877,591. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.88 and a quick ratio of 10.88. Olema Pharmaceuticals has a 12-month low of $4.37 and a 12-month high of $36.26. The company has a market capitalization of $1.04 billion, a P/E ratio of -5.90 and a beta of 2.00. The firm’s fifty day simple moving average is $12.17 and its 200-day simple moving average is $18.07.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, hitting the consensus estimate of ($0.52). As a group, equities analysts anticipate that Olema Pharmaceuticals will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of hedge funds have recently modified their holdings of OLMA. Siren L.L.C. purchased a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at approximately $82,518,000. Janus Henderson Group PLC raised its position in shares of Olema Pharmaceuticals by 87.1% during the 4th quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company’s stock valued at $167,901,000 after buying an additional 3,124,345 shares during the period. Cormorant Asset Management LP purchased a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at approximately $68,750,000. RA Capital Management L.P. acquired a new position in Olema Pharmaceuticals in the fourth quarter valued at approximately $65,000,000. Finally, Bain Capital Life Sciences Investors LLC lifted its holdings in Olema Pharmaceuticals by 24.3% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock valued at $212,716,000 after acquiring an additional 1,664,687 shares during the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

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.