Olema Pharmaceuticals’ (OLMA) Buy Rating Reiterated at HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 211.20% from the stock’s current price.

Olema Pharmaceuticals Trading Up 2.1 %

Shares of NASDAQ:OLMA opened at $9.64 on Wednesday. Olema Pharmaceuticals has a twelve month low of $7.68 and a twelve month high of $16.77. The company has a market cap of $552.35 million, a PE ratio of -4.40 and a beta of 1.92. The company’s 50 day moving average is $10.97 and its 200 day moving average is $11.94.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OLMA. Point72 Asset Management L.P. boosted its holdings in 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 purchasing an additional 475,447 shares during the last quarter. State Street Corp lifted its holdings in shares of Olema Pharmaceuticals by 1.1% in the 3rd quarter. State Street Corp now owns 1,969,963 shares of the company’s stock valued at $23,521,000 after buying an additional 21,986 shares during the period. Candriam S.C.A. boosted its stake in shares of Olema Pharmaceuticals by 199.9% in the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock worth $11,454,000 after buying an additional 705,655 shares during the last quarter. Wellington Management Group LLP grew its holdings in Olema Pharmaceuticals by 10.8% during the third quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock worth $11,972,000 after acquiring an additional 97,428 shares during the period. Finally, Great Point Partners LLC raised its position in Olema Pharmaceuticals by 25.5% during the third quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock valued at $11,940,000 after acquiring an additional 203,120 shares in the last quarter. Hedge funds and other 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.