UBS Group Upgrades Olema Pharmaceuticals (NASDAQ:OLMA) to “Strong-Buy”

Olema Pharmaceuticals (NASDAQ:OLMA) was upgraded by research analysts at UBS Group to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages have also issued reports on OLMA. Citigroup lifted their price target on Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Zacks Research raised Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. Piper Sandler began coverage on shares of Olema Pharmaceuticals in a report on Wednesday. They issued an “overweight” rating and a $40.00 price objective for the company. Finally, HC Wainwright increased their target price on shares of Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Olema Pharmaceuticals Price Performance

OLMA stock opened at $25.57 on Wednesday. The firm has a 50 day simple moving average of $22.68 and a two-hundred day simple moving average of $12.28. The stock has a market cap of $1.76 billion, a PE ratio of -13.67 and a beta of 1.92. Olema Pharmaceuticals has a one year low of $2.86 and a one year high of $36.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). On average, analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ian T. Clark sold 264,800 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $29.73, for a total value of $7,872,504.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Naseem Zojwalla sold 99,509 shares of Olema Pharmaceuticals stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $27.66, for a total transaction of $2,752,418.94. Following the completion of the transaction, the insider directly owned 4,488 shares in the company, valued at approximately $124,138.08. The trade was a 95.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 588,190 shares of company stock worth $17,038,578. 16.36% of the stock is owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Olema Pharmaceuticals in the third quarter worth about $53,000. Ameritas Investment Partners Inc. grew its position in shares of Olema Pharmaceuticals by 55.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after buying an additional 2,168 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Olema Pharmaceuticals by 602.9% during the second quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after buying an additional 5,866 shares during the period. FNY Investment Advisers LLC raised its holdings in shares of Olema Pharmaceuticals by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after acquiring an additional 5,000 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in Olema Pharmaceuticals in the second quarter worth $54,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

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.