Olema Pharmaceuticals (NASDAQ:OLMA) Shares Up 7.7% – Time to Buy?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s share price was up 7.7% during mid-day trading on Thursday . The company traded as high as $26.42 and last traded at $26.4650. Approximately 401,187 shares were traded during trading, a decline of 65% from the average daily volume of 1,140,477 shares. The stock had previously closed at $24.57.

Analysts Set New Price Targets

OLMA has been the topic of several analyst reports. Piper Sandler assumed coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set an “overweight” rating and a $40.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Thursday, January 22nd. HC Wainwright lifted their price target on Olema Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Citigroup boosted their price target on Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, JPMorgan Chase & Co. raised their price objective on Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Olema Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $41.00.

Olema Pharmaceuticals Trading Down 1.3%

The firm’s fifty day simple moving average is $27.57 and its 200 day simple moving average is $14.75. The stock has a market capitalization of $1.77 billion, a P/E ratio of -13.75 and a beta of 1.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results 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 research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Insider Buying and Selling at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, insider Shane William Charles Kovacs sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the sale, the insider owned 139,727 shares of the company’s stock, valued at approximately $4,014,356.71. This trade represents a 41.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Naseem Zojwalla sold 99,509 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $27.66, for a total value of $2,752,418.94. Following the completion of the transaction, the insider owned 4,488 shares in the company, valued at $124,138.08. This represents a 95.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 765,501 shares of company stock worth $22,052,432. Company insiders own 16.36% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Torren Management LLC purchased a new position in shares of Olema Pharmaceuticals during the fourth quarter worth approximately $44,000. Nisa Investment Advisors LLC increased its position in shares of Olema Pharmaceuticals by 14.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock worth $94,000 after purchasing an additional 477 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Olema Pharmaceuticals by 44.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock valued at $96,000 after buying an additional 1,169 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Olema Pharmaceuticals during the 3rd quarter worth approximately $53,000. Finally, Ameritas Investment Partners Inc. increased its position in shares of Olema Pharmaceuticals by 55.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after acquiring an additional 2,168 shares during the period. Hedge funds and other institutional investors own 91.78% of the company’s stock.

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.