Olema Pharmaceuticals (NASDAQ:OLMA) Receives Buy Rating from HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $30.00 price target on the stock.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA opened at $4.14 on Wednesday. Olema Pharmaceuticals has a twelve month low of $3.95 and a twelve month high of $16.62. The stock has a market capitalization of $237.21 million, a PE ratio of -1.89 and a beta of 2.11. The stock has a 50-day simple moving average of $5.18 and a 200 day simple moving average of $8.46.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.12. As a group, equities research analysts forecast that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was acquired at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the transaction, the insider now owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bain Capital Life Sciences Investors LLC bought a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at approximately $43,551,000. Lightspeed Management Company L.L.C. bought a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at approximately $11,257,000. Paradigm Biocapital Advisors LP grew its stake in shares of Olema Pharmaceuticals by 32.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company’s stock valued at $42,588,000 after purchasing an additional 1,801,370 shares during the period. Avoro Capital Advisors LLC bought a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at approximately $9,631,000. Finally, Millennium Management LLC grew its stake in shares of Olema Pharmaceuticals by 1,154.4% in the 4th quarter. Millennium Management LLC now owns 979,219 shares of the company’s stock valued at $5,709,000 after purchasing an additional 901,159 shares during the period. 91.78% of the stock is currently owned by 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.