Olema Pharmaceuticals (NASDAQ:OLMA) Trading Up 7.1% – Time to Buy?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price traded up 7.1% on Tuesday . The company traded as high as $10.59 and last traded at $10.7080. 668,432 shares were traded during trading, a decline of 54% from the average daily volume of 1,449,356 shares. The stock had previously closed at $10.00.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Jefferies Financial Group assumed coverage on shares of Olema Pharmaceuticals in a report on Thursday, March 19th. They set a “buy” rating and a $40.00 target price for the company. HC Wainwright reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Olema Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 18th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Olema Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $44.10.

Olema Pharmaceuticals Price Performance

The company has a quick ratio of 10.88, a current ratio of 10.88 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $13.25 and a 200 day moving average of $19.78. The firm has a market cap of $959.54 million, a P/E ratio of -5.43 and a beta of 1.98.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its position in Olema Pharmaceuticals by 9,476.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock worth $31,000 after acquiring an additional 1,232 shares during the last quarter. Torren Management LLC acquired a new position in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $44,000. Russell Investments Group Ltd. bought a new position in shares of Olema Pharmaceuticals during the third quarter worth approximately $53,000. American Century Companies Inc. bought a new position in shares of Olema Pharmaceuticals during the second quarter worth approximately $54,000. Finally, Creative Planning acquired a new stake in Olema Pharmaceuticals during the 2nd quarter worth approximately $83,000. 91.78% of the stock is owned by institutional investors.

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.