Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Given Consensus Recommendation of “Buy” by Brokerages

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has received a consensus recommendation of “Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.43.

A number of research firms have recently weighed in on OLMA. The Goldman Sachs Group began coverage on Olema Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 price target for the company. Citigroup assumed coverage on shares of Olema Pharmaceuticals in a research note on Tuesday, January 30th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Olema Pharmaceuticals in a research note on Thursday, February 22nd.

Olema Pharmaceuticals Stock Down 0.6 %

Shares of OLMA opened at $9.87 on Tuesday. Olema Pharmaceuticals has a 52-week low of $3.93 and a 52-week high of $17.79. The company has a 50-day simple moving average of $12.27 and a 200-day simple moving average of $12.95. The company has a market capitalization of $551.88 million, a PE ratio of -4.57 and a beta of 2.10.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). On average, research analysts anticipate that Olema Pharmaceuticals will post -2.34 EPS for the current year.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 20,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $10.97, for a total value of $219,400.00. Following the sale, the director now directly owns 826,283 shares of the company’s stock, valued at $9,064,324.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 70,000 shares of company stock valued at $835,400 over the last quarter. Insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. MPM Bioimpact LLC grew its stake in shares of Olema Pharmaceuticals by 301.7% in the 3rd quarter. MPM Bioimpact LLC now owns 1,857,681 shares of the company’s stock worth $22,942,000 after purchasing an additional 1,395,181 shares during the last quarter. Polar Capital Holdings Plc bought a new position in shares of Olema Pharmaceuticals in the third quarter valued at $9,262,000. First Light Asset Management LLC acquired a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $8,854,000. Victory Capital Management Inc. boosted its stake 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 acquiring an additional 558,077 shares in the last quarter. Finally, Perceptive Advisors LLC acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter worth $7,574,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.