Olema Pharmaceuticals’ (OLMA) “Outperform” Rating Reiterated at Oppenheimer

Oppenheimer restated their outperform rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research note released on Wednesday morning, Benzinga reports. Oppenheimer currently has a $30.00 price target on the stock.

Separately, HC Wainwright restated a buy rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Tuesday, June 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $27.00.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA traded down $0.89 during mid-day trading on Wednesday, reaching $11.85. The stock had a trading volume of 697,547 shares, compared to its average volume of 855,284. The stock has a market cap of $662.82 million, a P/E ratio of -5.87 and a beta of 2.06. The business’s 50 day moving average is $12.96 and its 200 day moving average is $12.18. Olema Pharmaceuticals has a fifty-two week low of $8.50 and a fifty-two week high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, hitting the consensus estimate of ($0.54). Equities analysts expect that Olema Pharmaceuticals will post -2.3 EPS for the current year.

Insider Buying and Selling

In related news, Director Cyrus Harmon sold 15,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $9.41, for a total transaction of $141,150.00. Following the completion of the transaction, the director now owns 791,283 shares of the company’s stock, valued at approximately $7,445,973.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the sale, the insider now directly owns 783,118 shares of the company’s stock, valued at $11,676,289.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cyrus Harmon sold 15,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $9.41, for a total transaction of $141,150.00. Following the transaction, the director now directly owns 791,283 shares in the company, valued at approximately $7,445,973.03. The disclosure for this sale can be found here. Insiders have sold 2,449,066 shares of company stock worth $36,319,848 in the last quarter. 19.40% of the stock is currently owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of OLMA. Candriam S.C.A. raised its position in shares of Olema Pharmaceuticals by 199.9% during the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock valued at $11,454,000 after buying an additional 705,655 shares during the last quarter. First Light Asset Management LLC bought a new stake in shares of Olema Pharmaceuticals in the 4th quarter worth approximately $8,854,000. Victory Capital Management Inc. grew its holdings in shares of Olema Pharmaceuticals by 879.6% during the 4th quarter. Victory Capital Management Inc. now owns 621,527 shares of the company’s stock worth $8,720,000 after purchasing an additional 558,077 shares in the last quarter. Perceptive Advisors LLC bought a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at approximately $7,574,000. Finally, Janus Henderson Group PLC raised its stake in shares of Olema Pharmaceuticals by 74.5% in the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock valued at $13,817,000 after purchasing an additional 521,562 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.