Olema Pharmaceuticals (NASDAQ:OLMA) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Olema Pharmaceuticals (NASDAQ:OLMA) from a sell rating to a strong sell rating in a research note released on Sunday morning.

OLMA has been the topic of a number of other research reports. Oppenheimer reissued an “outperform” rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Thursday, January 22nd. The Goldman Sachs Group lowered their price target on Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Guggenheim lowered their price target on Olema Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Finally, Stifel Nicolaus started coverage on Olema Pharmaceuticals in a research report on Wednesday, February 11th. They issued a “buy” rating and a $48.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Olema Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $44.40.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ OLMA opened at $16.82 on Friday. The business’s 50 day moving average price is $18.56 and its two-hundred day moving average price is $19.87. The company has a market cap of $1.47 billion, a PE ratio of -9.04 and a beta of 2.17. The company has a quick ratio of 9.95, a current ratio of 9.95 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals has a twelve month low of $3.89 and a twelve month high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01. On average, analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Activity at Olema Pharmaceuticals

In other news, insider Shawnte Mitchell sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total value of $606,250.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Cyrus Harmon sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $26.88, for a total value of $268,800.00. Following the completion of the transaction, the director directly owned 727,770 shares in the company, valued at $19,562,457.60. The trade was a 1.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 50,000 shares of company stock worth $1,220,200 in the last ninety days. 16.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in Olema Pharmaceuticals by 9,476.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock worth $31,000 after buying an additional 1,232 shares in the last quarter. Torren Management LLC acquired a new position in Olema Pharmaceuticals in the 4th quarter valued at $44,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Olema Pharmaceuticals in the 4th quarter valued at $88,000. Nisa Investment Advisors LLC lifted its position in shares of Olema Pharmaceuticals by 14.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock valued at $94,000 after acquiring an additional 477 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Olema Pharmaceuticals by 44.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock valued at $96,000 after acquiring an additional 1,169 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.

About Olema Pharmaceuticals

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.