Olema Pharmaceuticals (NASDAQ:OLMA) Shares Up 5.9% – Still a Buy?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price was up 5.9% during trading on Friday . The stock traded as high as $11.73 and last traded at $11.7270. 449,756 shares changed hands during trading, a decline of 70% from the average daily volume of 1,498,546 shares. The stock had previously closed at $11.07.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wolfe Research began coverage on shares of Olema Pharmaceuticals in a research report on Friday, March 27th. They issued a “peer perform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Tuesday, April 21st. Wall Street Zen upgraded Olema Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. HC Wainwright reissued a “buy” rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Finally, Guggenheim decreased their target price on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.10.

Olema Pharmaceuticals Stock Up 3.6%

The business’s fifty day moving average price is $11.85 and its 200 day moving average price is $17.52. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -5.68 and a beta of 2.00. The company has a current ratio of 10.88, a quick ratio of 10.88 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.52). On average, equities analysts expect that Olema Pharmaceuticals, Inc. will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Olema Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Bain Capital Life Sciences Investors LLC increased its position in Olema Pharmaceuticals by 24.3% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock valued at $212,716,000 after acquiring an additional 1,664,687 shares during the period. Paradigm Biocapital Advisors LP lifted its position in Olema Pharmaceuticals by 11.0% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,544,172 shares of the company’s stock worth $188,604,000 after acquiring an additional 750,000 shares during the period. Janus Henderson Group PLC lifted its position 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 acquiring an additional 398,294 shares during the period. Siren L.L.C. grew its stake in shares of Olema Pharmaceuticals by 44.1% in the 1st quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock valued at $70,926,000 after purchasing an additional 1,456,249 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Olema Pharmaceuticals by 11.4% in the 4th quarter. Vanguard Group Inc. now owns 3,561,355 shares of the company’s stock valued at $89,034,000 after purchasing an additional 364,035 shares during 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.