Olema Pharmaceuticals (NASDAQ:OLMA) Reaches New 52-Week High – Should You Buy?

by · The Cerbat Gem

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $30.24 and last traded at $28.9010, with a volume of 3349638 shares changing hands. The stock had previously closed at $26.58.

Wall Street Analyst Weigh In

Several analysts have weighed in on OLMA shares. JPMorgan Chase & Co. boosted their target price on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Citigroup upped their target price on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. The Goldman Sachs Group raised their target price on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. Guggenheim began coverage on Olema Pharmaceuticals in a research report on Wednesday, October 8th. They set a “buy” rating and a $20.00 price target for the company. Finally, Oppenheimer increased their price objective on Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.50.

View Our Latest Stock Analysis on Olema Pharmaceuticals

Olema Pharmaceuticals Stock Performance

The firm’s fifty day simple moving average is $15.30 and its 200 day simple moving average is $9.00. The company has a market capitalization of $2.21 billion, a PE ratio of -17.29 and a beta of 1.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03.

Olema Pharmaceuticals (NASDAQ:OLMA – Get Free Report) last issued its earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). On average, research analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Insider Activity

In related news, Director Cyrus Harmon sold 10,000 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $8.33, for a total transaction of $83,300.00. Following the sale, the director directly owned 744,140 shares of the company’s stock, valued at approximately $6,198,686.20. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 25,000 shares of company stock valued at $204,841. Insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its position in Olema Pharmaceuticals by 55.4% during the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after purchasing an additional 2,168 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Olema Pharmaceuticals by 21.1% in the second quarter. ProShare Advisors LLC now owns 14,766 shares of the company’s stock valued at $63,000 after buying an additional 2,569 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Olema Pharmaceuticals by 0.4% during the 3rd quarter. Bank of America Corp DE now owns 802,304 shares of the company’s stock valued at $7,855,000 after buying an additional 2,802 shares in the last quarter. FNY Investment Advisers LLC lifted its position in shares of Olema Pharmaceuticals by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after buying an additional 5,000 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Olema Pharmaceuticals in the 3rd quarter valued at $53,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

About Olema Pharmaceuticals

(Get Free Report)

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.

Featured Articles