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

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $40.60.

A number of analysts have issued reports on OLMA shares. Citigroup cut their target price on Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Stifel Nicolaus decreased their target price on Olema Pharmaceuticals from $48.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday. HC Wainwright lowered their target price on Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Weiss Ratings downgraded Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 31st. Finally, Wall Street Zen lowered shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th.

Olema Pharmaceuticals Stock Down 0.8%

Shares of NASDAQ:OLMA opened at $9.82 on Friday. The company has a market capitalization of $859.25 million, a price-to-earnings ratio of -4.63 and a beta of 1.98. Olema Pharmaceuticals has a 12-month low of $6.65 and a 12-month high of $36.26. The business has a 50-day moving average price of $11.00 and a 200 day moving average price of $12.97. The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its earnings results on Monday, August 10th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06). Sell-side analysts expect that Olema Pharmaceuticals will post -2.43 EPS for the current year.

Insider Activity

In other news, Director Cyrus Harmon sold 12,500 shares of the business’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total transaction of $144,750.00. Following the completion of the transaction, the director directly owned 715,270 shares of the company’s stock, valued at approximately $8,282,826.60. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 12.56% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Large investors have recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in shares of Olema Pharmaceuticals by 5.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,108,488 shares of the company’s stock valued at $106,013,000 after purchasing an additional 398,294 shares in the last quarter. Jupiter Topco LLC purchased a new position in Olema Pharmaceuticals in the second quarter valued at $88,803,000. BlackRock Inc. purchased a new position in Olema Pharmaceuticals in the second quarter valued at $84,001,000. Siren L.L.C. raised its stake in Olema Pharmaceuticals by 44.1% in the first quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock valued at $70,926,000 after buying an additional 1,456,249 shares in the last quarter. Finally, Cormorant Asset Management LP purchased a new stake in Olema Pharmaceuticals during the 4th quarter worth about $68,750,000. 91.78% of the stock is owned by hedge funds and other institutional investors.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for women with cancer, particularly hormone receptor-positive breast cancer. The company’s research is centered on treatments designed to address the biological drivers of tumor growth and provide new options for patients with advanced or metastatic disease.

Olema’s lead investigational product is palazestrant, an oral selective estrogen receptor degrader (SERD) being evaluated for the treatment of estrogen receptor-positive, HER2-negative advanced or metastatic breast cancer.