Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Stock Has Average Price Target of $40.60

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $40.60.

A number of brokerages have recently issued reports on OLMA. Wall Street Zen lowered shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Citigroup reduced their price objective on shares of Olema Pharmaceuticals to $59.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. HC Wainwright reduced their price objective on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Stifel Nicolaus lowered their price objective on Olema Pharmaceuticals from $48.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, September 14th. Finally, Weiss Ratings upgraded Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st.

Insider Activity

In other news, Director Cyrus Harmon sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total value of $144,750.00. Following the completion of the sale, the director directly owned 715,270 shares of the company’s stock, valued at $8,282,826.60. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OLMA. Jupiter Topco LLC acquired a new stake in shares of Olema Pharmaceuticals in the second quarter valued at about $88,803,000. BlackRock Inc. purchased a new stake in Olema Pharmaceuticals during the second quarter worth about $84,001,000. Cormorant Asset Management LP purchased a new stake in Olema Pharmaceuticals during the fourth quarter worth about $68,750,000. Siren L.L.C. grew its position in Olema Pharmaceuticals by 44.1% during the first quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock worth $70,926,000 after buying an additional 1,456,249 shares during the period. Finally, Jennison Associates LLC grew its position in Olema Pharmaceuticals by 89.0% during the first quarter. Jennison Associates LLC now owns 1,822,123 shares of the company’s stock worth $27,168,000 after buying an additional 858,126 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

Shares of OLMA opened at $6.58 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.86 and a current ratio of 8.86. The stock has a market capitalization of $575.75 million, a P/E ratio of -3.10 and a beta of 2.00. The company’s fifty day moving average is $9.60 and its two-hundred day moving average is $11.73. Olema Pharmaceuticals has a 1 year low of $6.48 and a 1 year high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06). On average, sell-side analysts predict that Olema Pharmaceuticals will post -2.43 earnings per share for the current year.

Olema Pharmaceuticals Company Profile

Olema Pharmaceuticals, Inc (NASDAQ: OLMA) is a clinical-stage biopharmaceutical company focused on developing therapies for women’s cancers, with an emphasis on hormone receptor-positive breast cancer. The company’s research is centered on oral endocrine medicines designed to target estrogen receptor signaling, an important driver of many breast tumors.

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