Olema Pharmaceuticals (NASDAQ:OLMA) Stock Rating Upgraded by HC Wainwright

Posted by on Jun 9th, 2022

Olema Pharmaceuticals (NASDAQ:OLMA – Get Rating) was upgraded by research analysts at HC Wainwright from a “neutral” rating to a “buy” rating in a research report issued on Thursday, Briefing.com reports. The brokerage currently has a $12.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 178.42% from the stock’s previous close.

Separately, Zacks Investment Research downgraded shares of Olema Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, May 13th.

Shares of Olema Pharmaceuticals stock traded up $0.31 on Thursday, hitting $4.31. 49,309 shares of the company were exchanged, compared to its average volume of 452,498. The company has a 50-day moving average price of $2.93 and a 200 day moving average price of $6.01. The stock has a market capitalization of $173.91 million, a price-to-earnings ratio of -2.07 and a beta of 2.47. Olema Pharmaceuticals has a 1-year low of $2.00 and a 1-year high of $32.77.

Olema Pharmaceuticals (NASDAQ:OLMA – Get Rating) last posted its earnings results on Monday, May 9th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.01). As a group, sell-side analysts predict that Olema Pharmaceuticals will post -2.87 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in Olema Pharmaceuticals by 103.7% in the 2nd quarter. Morgan Stanley now owns 125,160 shares of the company’s stock valued at $3,501,000 after acquiring an additional 63,702 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Olema Pharmaceuticals by 206.7% during the third quarter. Goldman Sachs Group Inc. now owns 150,619 shares of the company’s stock worth $4,151,000 after acquiring an additional 101,507 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Olema Pharmaceuticals by 118.9% in the 3rd quarter. Geode Capital Management LLC now owns 465,287 shares of the company’s stock valued at $12,823,000 after purchasing an additional 252,765 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Olema Pharmaceuticals by 81.5% in the third quarter. The Manufacturers Life Insurance Company now owns 13,233 shares of the company’s stock valued at $365,000 after acquiring an additional 5,941 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Olema Pharmaceuticals during the third quarter valued at approximately $2,698,000.

About Olema Pharmaceuticals (Get Rating)

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 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.

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