Olema Pharmaceuticals’ (OLMA) Outperform Rating Reaffirmed at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $25.00 target price on the stock, down from their previous target price of $30.00.

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

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA opened at $4.11 on Wednesday. The firm has a market capitalization of $235.49 million, a PE ratio of -1.88 and a beta of 2.11. The business’s fifty day moving average price is $5.14 and its 200 day moving average price is $8.43. 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) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.12. As a group, equities analysts anticipate that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the company’s stock in a transaction on 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 completion of the acquisition, the insider now owns 7,800,000 shares in the company, valued at $44,928,000. This trade represents a 4.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth about $30,000. Hsbc Holdings PLC acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth about $58,000. Teacher Retirement System of Texas acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth about $60,000. Vontobel Holding Ltd. acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth about $62,000. Finally, Virtus ETF Advisers LLC boosted its stake in shares of Olema Pharmaceuticals by 43.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock worth $62,000 after buying an additional 3,185 shares during the period. 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.