Olema Pharmaceuticals’ (OLMA) Outperform Rating Reiterated at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a research note published on Wednesday,Benzinga reports. Oppenheimer currently has a $25.00 target price on the stock, down from their previous target price of $30.00.

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

Olema Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ:OLMA opened at $4.11 on Wednesday. The company has a market cap of $235.49 million, a P/E ratio of -1.88 and a beta of 2.11. Olema Pharmaceuticals has a 52 week low of $3.95 and a 52 week high of $16.62. The company has a 50-day moving average price of $5.14 and a 200 day moving average price of $8.43.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.12. Analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Buying and Selling at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average cost 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 approximately $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 through this link. 19.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Polar Asset Management Partners Inc. purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter worth approximately $119,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Olema Pharmaceuticals by 23.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,979 shares of the company’s stock worth $548,000 after acquiring an additional 18,005 shares during the period. Squarepoint Ops LLC grew its stake in Olema Pharmaceuticals by 205.8% in the 4th quarter. Squarepoint Ops LLC now owns 48,829 shares of the company’s stock worth $285,000 after acquiring an additional 32,860 shares during the period. ProShare Advisors LLC grew its stake in Olema Pharmaceuticals by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 14,226 shares of the company’s stock worth $83,000 after acquiring an additional 3,298 shares during the period. Finally, MPM Bioimpact LLC grew its stake in Olema Pharmaceuticals by 8.7% in the 4th quarter. MPM Bioimpact LLC now owns 2,912,550 shares of the company’s stock worth $16,980,000 after acquiring an additional 231,954 shares during the period. 91.78% of the stock is owned by hedge funds and other institutional investors.

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.