Olema Pharmaceuticals (NASDAQ:OLMA) Shares Climb 7.4% – What’s Next?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s share price rose 7.4% on Monday. The company traded as high as $7.01 and last traded at $7.0660. 310,098 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,362,709 shares. The stock had previously closed at $6.58.

Analysts Set New Price Targets

OLMA has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Wall Street Zen lowered Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, July 25th. HC Wainwright reduced 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. Citigroup decreased their target price on shares of Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 21st. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Olema Pharmaceuticals Stock Up 7.4%

The company has a 50 day moving average of $9.60 and a 200-day moving average of $11.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.86 and a quick ratio of 8.86. The company has a market cap of $618.54 million, a P/E ratio of -3.33 and a beta of 2.00.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.06). On average, equities analysts predict that Olema Pharmaceuticals, Inc. will post -2.43 earnings per share for the current year.

Insider Activity

In other news, Director Cyrus Harmon sold 12,500 shares of the 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 transaction, the director directly owned 715,270 shares in the company, valued at approximately $8,282,826.60. This represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.56% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted 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 valued at $106,013,000 after acquiring an additional 398,294 shares during the period. Jupiter Topco LLC purchased a new position in Olema Pharmaceuticals during the 2nd quarter valued at about $88,803,000. BlackRock Inc. purchased a new stake in Olema Pharmaceuticals in the second quarter worth $84,001,000. Siren L.L.C. raised its holdings in Olema Pharmaceuticals by 44.1% in the 1st quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock worth $70,926,000 after purchasing an additional 1,456,249 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Olema Pharmaceuticals by 89.0% in the 1st quarter. Jennison Associates LLC now owns 1,822,123 shares of the company’s stock worth $27,168,000 after purchasing an additional 858,126 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Company Profile

Olema Pharmaceuticals, Inc (NASDAQ: OLMA) is a clinical-stage biopharmaceutical company focused on developing therapies for women’s cancers, with an emphasis on hormone receptor-positive breast cancer. The company’s research is centered on oral endocrine medicines designed to target estrogen receptor signaling, an important driver of many breast tumors.

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