Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Up 9.3% – Should You Buy?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s share price shot up 9.3% during mid-day trading on Tuesday . The stock traded as high as $9.74 and last traded at $9.74. 363,378 shares were traded during trading, a decline of 51% from the average session volume of 737,057 shares. The stock had previously closed at $8.91.

Analyst Ratings Changes

A number of analysts have recently commented on OLMA shares. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, November 13th. Oppenheimer restated an “outperform” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Olema Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $27.00.

Olema Pharmaceuticals Price Performance

The stock’s 50-day moving average price is $11.44 and its 200 day moving average price is $11.88. The firm has a market cap of $579.88 million, a P/E ratio of -4.62 and a beta of 2.02.

Institutional Investors Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc increased its position in shares of Olema Pharmaceuticals by 6.1% in the second quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock valued at $161,000 after acquiring an additional 850 shares during the last quarter. California State Teachers Retirement System increased its holdings in Olema Pharmaceuticals by 3.4% during the first quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock worth $393,000 after buying an additional 1,132 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Olema Pharmaceuticals by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock worth $298,000 after acquiring an additional 1,486 shares in the last quarter. ClariVest Asset Management LLC lifted its stake in Olema Pharmaceuticals by 3.1% in the second quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock valued at $683,000 after acquiring an additional 1,881 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of Olema Pharmaceuticals by 5.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 48,655 shares of the company’s stock valued at $581,000 after acquiring an additional 2,407 shares during the period. 91.78% of the stock is owned by institutional investors.

Olema Pharmaceuticals Company Profile

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.