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

HC Wainwright restated their buy rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report released on Wednesday,Benzinga reports. HC Wainwright currently has a $30.00 price target on the stock. HC Wainwright also issued estimates for Olema Pharmaceuticals’ Q4 2024 earnings at ($0.64) EPS, FY2024 earnings at ($2.34) EPS, FY2025 earnings at ($2.82) EPS, FY2026 earnings at ($2.95) EPS, FY2027 earnings at ($2.83) EPS and FY2028 earnings at ($2.43) EPS.

Other analysts have also issued research reports about the stock. Oppenheimer reiterated an “outperform” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $27.00.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $9.17 on Wednesday. The company has a market capitalization of $525.42 million, a price-to-earnings ratio of -4.19 and a beta of 2.02. Olema Pharmaceuticals has a one year low of $8.51 and a one year high of $17.10. The stock has a 50-day simple moving average of $12.00 and a 200 day simple moving average of $11.96.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.01). On average, equities research analysts forecast that Olema Pharmaceuticals will post -2.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several institutional investors have recently modified their holdings of OLMA. Janus Henderson Group PLC boosted its stake in Olema Pharmaceuticals by 74.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock valued at $13,817,000 after purchasing an additional 521,562 shares during the period. Entropy Technologies LP acquired a new stake in Olema Pharmaceuticals in the 1st quarter valued at approximately $161,000. Susquehanna Fundamental Investments LLC bought a new stake in Olema Pharmaceuticals during the 1st quarter valued at $176,000. Hennion & Walsh Asset Management Inc. acquired a new position in Olema Pharmaceuticals during the 2nd quarter worth $945,000. Finally, Point72 Asset Management L.P. acquired a new position in Olema Pharmaceuticals during the 2nd quarter worth $34,753,000. Institutional investors 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.