Olema Pharmaceuticals (NASDAQ:OLMA) Earns “Buy” Rating from HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 152.74% from the company’s current price.

OLMA has been the topic of a number of other reports. Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $27.00.

Olema Pharmaceuticals Stock Up 2.9 %

Olema Pharmaceuticals stock traded up $0.33 during midday trading on Wednesday, reaching $11.87. The stock had a trading volume of 319,409 shares, compared to its average volume of 736,058. Olema Pharmaceuticals has a 12 month low of $8.51 and a 12 month high of $17.23. The firm’s 50-day moving average price is $12.08 and its 200 day moving average price is $11.98. The firm has a market capitalization of $679.79 million, a PE ratio of -5.42 and a beta of 2.02.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.01). Equities research analysts expect that Olema Pharmaceuticals will post -2.32 EPS for the current year.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new stake in shares of Olema Pharmaceuticals in the 2nd quarter worth approximately $34,753,000. Great Point Partners LLC purchased a new position in Olema Pharmaceuticals during the second quarter worth $8,622,000. Candriam S.C.A. increased its position in Olema Pharmaceuticals by 199.9% during the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock valued at $11,454,000 after acquiring an additional 705,655 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Olema Pharmaceuticals by 74.5% in the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock valued at $13,817,000 after acquiring an additional 521,562 shares during the period. Finally, Affinity Asset Advisors LLC purchased a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth about $2,976,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

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.