Olema Pharmaceuticals (NASDAQ:OLMA) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report released on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $48.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on the company. Citigroup increased their price target on Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Oppenheimer upped their target price on Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. The Goldman Sachs Group increased their target price on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. UBS Group started coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set a “buy” rating and a $45.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.78.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ:OLMA opened at $22.59 on Wednesday. Olema Pharmaceuticals has a 12-month low of $2.86 and a 12-month high of $36.26. The company’s 50 day moving average price is $27.06 and its two-hundred day moving average price is $16.15. The firm has a market cap of $1.55 billion, a PE ratio of -12.08 and a beta of 1.89. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01.

Insider Activity

In other news, insider Shane William Charles Kovacs sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the sale, the insider owned 139,727 shares of the company’s stock, valued at $4,014,356.71. This trade represents a 41.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Naseem Zojwalla sold 99,509 shares of Olema Pharmaceuticals stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $27.66, for a total transaction of $2,752,418.94. Following the completion of the sale, the insider directly owned 4,488 shares of the company’s stock, valued at approximately $124,138.08. This trade represents a 95.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 765,501 shares of company stock worth $22,052,432. 16.36% of the stock is owned by insiders.

Institutional Trading of Olema Pharmaceuticals

Several hedge funds have recently bought and sold shares of OLMA. Siren L.L.C. acquired a new position in Olema Pharmaceuticals during the fourth quarter worth $82,518,000. Jennison Associates LLC bought a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth about $24,100,000. Kingdon Capital Management L.L.C. acquired a new stake in shares of Olema Pharmaceuticals in the 3rd quarter worth about $8,361,000. State Street Corp lifted its position in Olema Pharmaceuticals by 72.3% in the 4th quarter. State Street Corp now owns 1,884,399 shares of the company’s stock valued at $47,110,000 after acquiring an additional 790,825 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Olema Pharmaceuticals by 193.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company’s stock valued at $4,996,000 after acquiring an additional 773,064 shares in the last quarter. Institutional investors and hedge funds 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.