Olema Pharmaceuticals (NASDAQ:OLMA) Given “Outperform” Rating at Oppenheimer

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “outperform” rating reissued by equities research analysts at Oppenheimer in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $25.00 price target on the stock, down from their prior price target of $30.00. Oppenheimer’s price target indicates a potential upside of 495.66% from the stock’s current price.

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

Olema Pharmaceuticals Price Performance

OLMA stock traded up $0.06 during trading hours on Wednesday, reaching $4.20. 405,380 shares of the stock were exchanged, compared to its average volume of 802,660. The firm’s 50-day moving average is $5.18 and its 200-day moving average is $8.46. The company has a market cap of $240.48 million, a price-to-earnings ratio of -1.91 and a beta of 2.11. Olema Pharmaceuticals has a 12 month low of $3.95 and a 12 month high of $16.62.

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

Insider Activity

In other news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was acquired at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the purchase, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 19.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Bain Capital Life Sciences Investors LLC acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $43,551,000. Paradigm Biocapital Advisors LP raised its position in shares of Olema Pharmaceuticals by 32.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company’s stock valued at $42,588,000 after buying an additional 1,801,370 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Olema Pharmaceuticals by 14.8% in the third quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company’s stock valued at $44,027,000 after buying an additional 475,447 shares in the last quarter. MPM Bioimpact LLC raised its position in shares of Olema Pharmaceuticals by 8.7% in the fourth quarter. MPM Bioimpact LLC now owns 2,912,550 shares of the company’s stock valued at $16,980,000 after buying an additional 231,954 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Olema Pharmaceuticals by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 2,685,009 shares of the company’s stock valued at $15,654,000 after acquiring an additional 152,117 shares during the last quarter. 91.78% of the stock is currently 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.