Olema Pharmaceuticals (NASDAQ:OLMA) Reaches New 1-Year High – Here’s What Happened

by · The Markets Daily

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.51 and last traded at $27.3840, with a volume of 723226 shares changing hands. The stock had previously closed at $26.07.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OLMA. JPMorgan Chase & Co. lifted their price objective on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. UBS Group restated a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. Guggenheim initiated coverage on Olema Pharmaceuticals in a research note on Wednesday, October 8th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, HC Wainwright boosted their price target on shares of Olema Pharmaceuticals from $28.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Olema Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $30.00.

View Our Latest Research Report on Olema Pharmaceuticals

Olema Pharmaceuticals Stock Performance

The stock has a market cap of $2.02 billion, a P/E ratio of -15.66 and a beta of 2.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. The company has a fifty day moving average of $10.71 and a 200 day moving average of $7.09.

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

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals stock in a transaction that occurred 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 transaction, the director directly owned 744,140 shares in the company, valued at approximately $6,198,686.20. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 25,000 shares of company stock valued at $204,841. Company insiders own 16.36% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Paradigm Biocapital Advisors LP grew its holdings in shares of Olema Pharmaceuticals by 0.4% during the third quarter. Paradigm Biocapital Advisors LP now owns 6,794,172 shares of the company’s stock valued at $66,515,000 after buying an additional 30,000 shares in the last quarter. Deep Track Capital LP boosted its position in Olema Pharmaceuticals by 0.8% during the 3rd quarter. Deep Track Capital LP now owns 3,470,172 shares of the company’s stock worth $33,973,000 after acquiring an additional 27,339 shares during the period. MPM Bioimpact LLC grew its stake in Olema Pharmaceuticals by 0.6% during the 1st quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company’s stock valued at $11,018,000 after acquiring an additional 17,896 shares in the last quarter. Woodline Partners LP grew its stake in Olema Pharmaceuticals by 8.9% during the 1st quarter. Woodline Partners LP now owns 1,477,907 shares of the company’s stock valued at $5,557,000 after acquiring an additional 120,428 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Olema Pharmaceuticals by 22.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock valued at $5,650,000 after purchasing an additional 242,997 shares during the period. 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.

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