Olema Pharmaceuticals (NASDAQ:OLMA) Earns “Outperform” Rating from Oppenheimer

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “outperform” rating reiterated by equities research analysts at Oppenheimer in a research report issued on Wednesday,Benzinga reports. They presently have a $25.00 price objective on the stock, down from their previous price objective of $30.00. Oppenheimer’s price objective would suggest a potential upside of 495.66% from the company’s previous close.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA traded up $0.06 during mid-day trading on Wednesday, reaching $4.20. The stock had a trading volume of 405,380 shares, compared to its average volume of 802,660. The stock has a 50-day simple moving average of $5.18 and a two-hundred day simple moving average of $8.46. The stock has a market capitalization of $240.48 million, a PE ratio of -1.91 and a beta of 2.11. Olema Pharmaceuticals has a 12 month low of $3.95 and a 12 month high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.12. Equities analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Buying and Selling at Olema Pharmaceuticals

In related news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were bought at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the transaction, the insider now directly owns 7,800,000 shares of the company’s stock, valued at $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 19.40% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in OLMA. KLP Kapitalforvaltning AS bought a new position in shares of Olema Pharmaceuticals during the 4th quarter worth about $30,000. Hsbc Holdings PLC bought a new position in shares of Olema Pharmaceuticals during the 4th quarter worth about $58,000. Teacher Retirement System of Texas bought a new position in Olema Pharmaceuticals in the 4th quarter valued at about $60,000. Vontobel Holding Ltd. bought a new position in Olema Pharmaceuticals in the 4th quarter valued at about $62,000. Finally, Virtus ETF Advisers LLC lifted its position in Olema Pharmaceuticals by 43.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock valued at $62,000 after acquiring an additional 3,185 shares in the last quarter. 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.