Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $44.10.

OLMA has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research note on Friday, May 22nd. Citigroup raised their price objective on Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th. JPMorgan Chase & Co. raised their price objective on Olema Pharmaceuticals from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. TD Cowen reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Finally, Wolfe Research initiated coverage on Olema Pharmaceuticals in a research note on Friday, March 27th. They set a “peer perform” rating on the stock.

Olema Pharmaceuticals Stock Performance

OLMA stock opened at $9.82 on Thursday. The business’s fifty day moving average is $14.17 and its 200-day moving average is $20.74. The company has a quick ratio of 10.88, a current ratio of 10.88 and a debt-to-equity ratio of 0.01. The company has a market cap of $857.78 million, a P/E ratio of -4.86 and a beta of 1.98. Olema Pharmaceuticals has a twelve month low of $3.89 and a twelve month high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, hitting the consensus estimate of ($0.52). Equities research analysts forecast that Olema Pharmaceuticals will post -2.16 EPS for the current year.

Institutional Trading of Olema Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in Olema Pharmaceuticals by 112.9% during the 1st quarter. Bank of America Corp DE now owns 508,706 shares of the company’s stock worth $7,585,000 after purchasing an additional 269,792 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Olema Pharmaceuticals by 5.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,108,488 shares of the company’s stock worth $106,013,000 after purchasing an additional 398,294 shares in the last quarter. California State Teachers Retirement System increased its holdings in Olema Pharmaceuticals by 966.0% during the 1st quarter. California State Teachers Retirement System now owns 39,079 shares of the company’s stock worth $583,000 after purchasing an additional 35,413 shares in the last quarter. Rock Springs Capital Management LP increased its holdings in Olema Pharmaceuticals by 73.4% during the 1st quarter. Rock Springs Capital Management LP now owns 170,378 shares of the company’s stock worth $2,540,000 after purchasing an additional 72,138 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Olema Pharmaceuticals by 7.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 109,582 shares of the company’s stock worth $1,634,000 after purchasing an additional 7,260 shares in the last quarter. Institutional investors and hedge funds 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.