Oppenheimer Reiterates “Outperform” Rating for Olema Pharmaceuticals (NASDAQ:OLMA)

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer in a report released on Wednesday,Benzinga reports. They currently have a $25.00 target price on the stock, down from their prior target price of $30.00.

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

Olema Pharmaceuticals Stock Up 0.2 %

Shares of OLMA stock opened at $4.12 on Wednesday. The firm has a market capitalization of $236.07 million, a P/E ratio of -1.88 and a beta of 2.11. Olema Pharmaceuticals has a twelve month low of $3.94 and a twelve month high of $16.62. The stock’s fifty day simple moving average is $5.11 and its 200 day simple moving average is $8.40.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.12. As a group, equities research analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Activity

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 shares were bought 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 of the company’s stock, valued at $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OLMA. KLP Kapitalforvaltning AS acquired a new position in Olema Pharmaceuticals during the 4th quarter worth approximately $30,000. Hsbc Holdings PLC acquired a new position in Olema Pharmaceuticals during the 4th quarter worth approximately $58,000. Teacher Retirement System of Texas acquired a new position in Olema Pharmaceuticals during the 4th quarter worth approximately $60,000. Vontobel Holding Ltd. acquired a new position in Olema Pharmaceuticals during the 4th quarter worth approximately $62,000. Finally, Virtus ETF Advisers LLC raised its stake in Olema Pharmaceuticals by 43.1% during the 4th 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. 91.78% of the stock is owned by institutional investors and hedge funds.

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.