Olema Pharmaceuticals, Inc. (OLMA) – What Are Brokerages Thinking About This Stock?

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $40.60.

Several equities research analysts recently issued reports on the stock. HC Wainwright cut their price objective on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 21st. JPMorgan Chase & Co. decreased their target price on shares of Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Wall Street Zen cut shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Finally, Stifel Nicolaus cut their price target on shares of Olema Pharmaceuticals from $48.00 to $30.00 and set a “buy” rating for the company in a report on Monday, September 14th.

Olema Pharmaceuticals Stock Up 8.4%

Shares of OLMA opened at $7.33 on Friday. Olema Pharmaceuticals has a 52-week low of $6.24 and a 52-week high of $36.26. The company has a market capitalization of $641.38 million, a PE ratio of -3.46 and a beta of 2.12. The stock has a fifty day simple moving average of $8.49 and a two-hundred day simple moving average of $13.65. The company has a quick ratio of 8.86, a current ratio of 8.86 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.06). As a group, equities analysts forecast that Olema Pharmaceuticals will post -2.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jupiter Topco LLC acquired a new stake in shares of Olema Pharmaceuticals during the second quarter valued at about $88,803,000. BlackRock Inc. purchased a new stake in shares of Olema Pharmaceuticals in the 2nd quarter valued at approximately $84,001,000. Siren L.L.C. lifted its holdings 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 worth $70,926,000 after acquiring an additional 1,456,249 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of 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 acquiring an additional 858,126 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new stake in Olema Pharmaceuticals in the 2nd quarter valued at approximately $7,429,000. 91.78% of the stock is currently 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’s cancers, with an emphasis on hormone receptor-positive breast cancer. The company’s research is centered on treatments designed to address cancer biology and resistance mechanisms that can limit the effectiveness of existing endocrine therapies.

Olema’s lead product candidate is palazestrant, an oral selective estrogen receptor degrader (SERD) being developed for patients with estrogen receptor-positive, human epidermal growth factor receptor 2-negative advanced or metastatic breast cancer.