Key Points
- Cyrus Harmon, a director at Olema Pharmaceuticals, sold 2,881 shares on December 22 at an average price of $28.53 for about $82,195, reducing his position by 0.39% to 741,259 shares (valued ~ $21.15M).
- Olema reported a quarterly EPS of ($0.49) vs. consensus ($0.44), missing estimates, and the stock was down ~2.2% (opened $25.07) with a market cap of ~$1.72B and a 52-week range of $2.86–$36.26.
- Analysts are mostly bullish with a consensus rating of Moderate Buy and a $40.50 consensus target, including notable raises such as Citigroup to $60 and Oppenheimer to $48.
Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) Director Cyrus Harmon sold 2,881 shares of the firm's stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $28.53, for a total value of $82,194.93. Following the transaction, the director owned 741,259 shares in the company, valued at approximately $21,148,119.27. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Olema Pharmaceuticals Stock Down 2.2%
NASDAQ OLMA opened at $25.07 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. Olema Pharmaceuticals, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $36.26. The stock has a market capitalization of $1.72 billion, a PE ratio of -13.41 and a beta of 1.87. The business has a fifty day moving average price of $20.31 and a two-hundred day moving average price of $11.34.
Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.05). Equities analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Olema Pharmaceuticals
Several institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its position in Olema Pharmaceuticals by 55.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company's stock valued at $26,000 after acquiring an additional 2,168 shares in the last quarter. ProShare Advisors LLC lifted its position in Olema Pharmaceuticals by 21.1% during the second quarter. ProShare Advisors LLC now owns 14,766 shares of the company's stock valued at $63,000 after purchasing an additional 2,569 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Olema Pharmaceuticals by 0.4% during the 3rd quarter. Bank of America Corp DE now owns 802,304 shares of the company's stock valued at $7,855,000 after acquiring an additional 2,802 shares during the period. FNY Investment Advisers LLC boosted its position in shares of Olema Pharmaceuticals by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock worth $42,000 after purchasing an additional 5,000 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Olema Pharmaceuticals during the third quarter valued at about $53,000. 91.78% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently commented on OLMA. Oppenheimer boosted their target price on Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Thursday, December 11th. Citigroup increased their price objective on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, December 12th. Zacks Research upgraded shares of Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Guggenheim assumed coverage on Olema Pharmaceuticals in a research note on Wednesday, October 8th. They issued a "buy" rating and a $20.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an "overweight" rating in a research note on Tuesday, November 18th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.50.
Read Our Latest Research Report on OLMA
About Olema Pharmaceuticals
(
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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