Olema Pharmaceuticals (NASDAQ:OLMA) Receives Buy Rating from HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $30.00 price target on the stock.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $4.14 on Wednesday. The stock’s fifty day moving average price is $5.18 and its two-hundred day moving average price is $8.46. Olema Pharmaceuticals has a 52-week low of $3.95 and a 52-week high of $16.62. The company has a market cap of $237.21 million, a price-to-earnings ratio of -1.89 and a beta of 2.11.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.12. On average, equities analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Bain Capital Life Sciences Inv purchased 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 purchase, the insider now directly owns 7,800,000 shares in the company, valued at $44,928,000. This trade represents a 4.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 19.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OLMA. JPMorgan Chase & Co. increased its position in shares of Olema Pharmaceuticals by 658.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 181,032 shares of the company’s stock valued at $2,162,000 after buying an additional 157,171 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Olema Pharmaceuticals by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 851,512 shares of the company’s stock worth $10,167,000 after purchasing an additional 76,720 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Olema Pharmaceuticals by 80.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 212,246 shares of the company’s stock worth $1,237,000 after purchasing an additional 94,651 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Olema Pharmaceuticals by 168.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company’s stock worth $3,949,000 after purchasing an additional 207,565 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Olema Pharmaceuticals by 10.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock worth $11,972,000 after purchasing an additional 97,428 shares in the last quarter. Institutional investors and hedge funds 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.