Olema Pharmaceuticals (NASDAQ:OLMA) Earns Peer Perform Rating from Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research note published on Friday, Marketbeat.com reports. The brokerage issued a peer perform rating on the stock.

Other analysts also recently issued reports about the stock. Citigroup raised 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. Jefferies Financial Group started coverage on shares of Olema Pharmaceuticals in a report on Thursday, March 19th. They issued a “buy” rating and a $40.00 price target for the company. 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. Stifel Nicolaus initiated coverage on shares of Olema Pharmaceuticals in a report on Wednesday, February 11th. They set a “buy” rating and a $48.00 price objective on the stock. Finally, HC Wainwright cut their price objective on shares of Olema Pharmaceuticals from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA opened at $13.67 on Friday. Olema Pharmaceuticals has a 1 year low of $2.86 and a 1 year high of $36.26. The stock has a 50-day moving average price of $21.63 and a two-hundred day moving average price of $19.13. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -7.35 and a beta of 1.93. The company has a current ratio of 9.95, a quick ratio of 9.95 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01. As a group, equities analysts expect that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Transactions at Olema Pharmaceuticals

In other news, insider David C. Myles sold 50,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $27.60, for a total value of $1,380,000.00. Following the sale, the insider directly owned 542,761 shares in the company, valued at $14,980,203.60. This trade represents a 8.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 on 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 directly owned 139,727 shares in the company, valued at approximately $4,014,356.71. This represents a 41.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 217,311 shares of company stock worth $5,965,254. Insiders own 16.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OLMA. EverSource Wealth Advisors LLC raised its holdings in shares of Olema Pharmaceuticals by 9,476.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock valued at $31,000 after purchasing an additional 1,232 shares during the period. Torren Management LLC bought a new position in Olema Pharmaceuticals during the fourth quarter worth about $44,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Olema Pharmaceuticals during the fourth quarter worth about $88,000. Nisa Investment Advisors LLC increased its position in Olema Pharmaceuticals by 14.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock worth $94,000 after buying an additional 477 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Olema Pharmaceuticals by 44.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock valued at $96,000 after buying an additional 1,169 shares during the period. Institutional investors 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.