Olema Pharmaceuticals' (OLMA) Buy Rating Reaffirmed at HC Wainwright
HC Wainwright has reaffirmed a "buy" rating for Olema Pharmaceuticals (NASDAQ:OLMA) with a target price of $30.00. Other analysts have also provided ratings, with Oppenheimer lowering its target to $25.00 and JPMorgan reducing it to $28.00. Olema's stock opened at $4.91, with a market cap of $335.52 million. The company reported a quarterly EPS of ($0.51), exceeding estimates. Institutional investors hold 91.78% of the stock, indicating strong institutional interest in the company.
Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $30.00 target price on the stock.
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A number of other analysts have also weighed in on OLMA. Oppenheimer reiterated an "outperform" rating and issued a $25.00 target price (down previously from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th. JPMorgan Chase & Co. reduced their target price on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, March 28th.
Check Out Our Latest Analysis on OLMA
Olema Pharmaceuticals Stock Down 3.7 %
NASDAQ:OLMA opened at $4.91 on Monday. The company's 50 day moving average price is $4.20 and its 200-day moving average price is $6.78. Olema Pharmaceuticals has a 52 week low of $2.86 and a 52 week high of $16.62. The stock has a market cap of $335.52 million, a price-to-earnings ratio of -2.24 and a beta of 2.10.
Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its quarterly 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, sell-side analysts anticipate that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.
Institutional Trading of Olema Pharmaceuticals
Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Olema Pharmaceuticals by 658.7% in the third quarter. JPMorgan Chase & Co. now owns 181,032 shares of the company's stock valued at $2,162,000 after acquiring an additional 157,171 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at $510,000. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Olema Pharmaceuticals by 80.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 212,246 shares of the company's stock valued at $1,237,000 after buying an additional 94,651 shares during the period. Alliancebernstein L.P. increased its stake in Olema Pharmaceuticals by 77.7% in the fourth quarter. Alliancebernstein L.P. now owns 313,982 shares of the company's stock valued at $1,831,000 after purchasing an additional 137,319 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Olema Pharmaceuticals by 105.0% in the 3rd quarter. Barclays PLC now owns 94,915 shares of the company's stock valued at $1,133,000 after purchasing an additional 48,614 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company's stock.
Olema Pharmaceuticals Company Profile
(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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