Olema Pharmaceuticals (NASDAQ:OLMA) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research note published on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $40.00 price target on the stock.

A number of other brokerages also recently weighed in on OLMA. JPMorgan Chase & Co. boosted their target price on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group began coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, January 7th. They set a “buy” rating and a $45.00 price target on the stock. TD Cowen reissued a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, March 9th. Citigroup boosted their price objective on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Finally, HC Wainwright reduced their price objective on Olema Pharmaceuticals from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, March 9th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ:OLMA opened at $14.08 on Thursday. The business has a fifty day moving average of $23.07 and a 200-day moving average of $18.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 9.95. Olema Pharmaceuticals has a twelve month low of $2.86 and a twelve month high of $36.26. The firm has a market cap of $966.73 million, a PE ratio of -7.57 and a beta of 1.92.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.01. On average, equities research analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Activity at Olema Pharmaceuticals

In related news, insider Shane William Charles Kovacs sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the sale, the insider directly owned 139,727 shares of the company’s stock, valued at $4,014,356.71. The trade was a 41.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Naseem Zojwalla sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $28.04, for a total transaction of $2,804,000.00. Following the sale, the insider directly owned 53,997 shares of the company’s stock, valued at approximately $1,514,075.88. This trade represents a 64.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 419,701 shares of company stock worth $11,603,868. Insiders own 16.36% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. raised its position in shares of Olema Pharmaceuticals by 55.4% during 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 last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Olema Pharmaceuticals by 9,476.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock worth $31,000 after purchasing an additional 1,232 shares during the last quarter. Torren Management LLC bought a new position in shares of Olema Pharmaceuticals in the 4th quarter worth $44,000. Russell Investments Group Ltd. acquired a new stake in shares of Olema Pharmaceuticals during the third quarter worth $53,000. Finally, American Century Companies Inc. acquired a new stake in shares of Olema Pharmaceuticals during the second quarter worth $54,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

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.