Jefferies Financial Group Initiates Coverage on Olema Pharmaceuticals (NASDAQ:OLMA)

Equities researchers at Jefferies Financial Group initiated coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 184.09% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. JPMorgan Chase & Co. lifted their target price on Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group initiated coverage on Olema Pharmaceuticals in a report on Wednesday, January 7th. They set a “buy” rating and a $45.00 target price for the company. Stifel Nicolaus started coverage on Olema Pharmaceuticals in a research report on Wednesday, February 11th. They set a “buy” rating and a $48.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Thursday, January 22nd. Eleven 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. According to MarketBeat, Olema Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $44.40.

Olema Pharmaceuticals Stock Performance

Olema Pharmaceuticals stock opened at $14.08 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.95 and a quick ratio of 8.03. Olema Pharmaceuticals has a 12 month low of $2.86 and a 12 month high of $36.26. The company has a fifty day moving average price of $23.07 and a two-hundred day moving average price of $18.73. The company has a market cap of $966.73 million, a PE ratio of -7.57 and a beta of 1.92.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its 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. Research analysts expect that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Buying and Selling at Olema Pharmaceuticals

In related news, insider David C. Myles sold 50,000 shares of Olema Pharmaceuticals stock in a transaction dated 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 transaction, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shane William Charles Kovacs sold 100,000 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was 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 in the company, valued at approximately $4,014,356.71. This trade represents a 41.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 419,701 shares of company stock valued at $11,603,868. Corporate insiders own 16.36% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in OLMA. AQR Capital Management LLC bought a new stake in Olema Pharmaceuticals during the first quarter worth approximately $172,000. Goldman Sachs Group Inc. grew its position in Olema Pharmaceuticals by 93.6% in the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after buying an additional 358,412 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Olema Pharmaceuticals by 216.8% in the first quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock valued at $521,000 after buying an additional 94,815 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Olema Pharmaceuticals by 21.1% in the second quarter. ProShare Advisors LLC now owns 14,766 shares of the company’s stock valued at $63,000 after buying an additional 2,569 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Olema Pharmaceuticals by 22.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock valued at $5,650,000 after acquiring an additional 242,997 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors.

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.