Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Up 6% Following Analyst Upgrade

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s share price rose 6% on Thursday after HC Wainwright raised their price target on the stock from $36.00 to $45.00. HC Wainwright currently has a buy rating on the stock. Olema Pharmaceuticals traded as high as $32.39 and last traded at $32.5130. Approximately 508,984 shares were traded during trading, a decline of 68% from the average daily volume of 1,593,776 shares. The stock had previously closed at $30.68.

A number of other equities research analysts also recently weighed in on the company. Oppenheimer lifted their price objective on Olema Pharmaceuticals from $22.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. The Goldman Sachs Group boosted their price target on Olema Pharmaceuticals from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Guggenheim assumed coverage on Olema Pharmaceuticals in a research note on Wednesday, October 8th. They set a “buy” rating and a $20.00 price objective for the company. UBS Group reissued a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Finally, Zacks Research raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 3,086 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $8.32, for a total value of $25,675.52. Following the completion of the sale, the director owned 117,028 shares in the company, valued at approximately $973,672.96. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 25,000 shares of company stock worth $204,841. 16.36% of the stock is owned by corporate insiders.

Institutional Trading of Olema Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its position in Olema Pharmaceuticals by 55.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after purchasing an additional 2,168 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Olema Pharmaceuticals by 602.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after buying an additional 5,866 shares during the last quarter. FNY Investment Advisers LLC increased its stake in shares of Olema Pharmaceuticals by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after buying an additional 5,000 shares during the period. Quarry LP acquired a new stake in shares of Olema Pharmaceuticals in the 1st quarter valued at $45,000. Finally, Alpine Global Management LLC bought a new stake in shares of Olema Pharmaceuticals during the first quarter worth $52,000. 91.78% of the stock is owned by institutional investors.

Olema Pharmaceuticals Stock Up 7.3%

The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -17.54 and a beta of 1.87. The firm has a 50 day moving average price of $14.89 and a 200-day moving average price of $8.85.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). As a group, equities analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

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.