Olema Pharmaceuticals, Inc. (OLMA) experienced a 2.3% increase in its stock price during mid-day trading on Friday. The stock reached a high of $12.75 and closed at $12.46 after 106,582 shares were traded. This trading volume was significantly lower than the average of 877,109 shares traded per session.
Analyst Ratings
Various research analysts have recently shared their opinions on OLMA stock. The Goldman Sachs Group initiated coverage on Olema Pharmaceuticals with a “buy” rating and a price target of $24.00. Capital One Financial reiterated an “overweight” rating, while HC Wainwright reaffirmed a “buy” rating with a price target of $30.00. Overall, seven analysts have given the stock a buy rating, leading to an average rating of “Buy” and an average price target of $22.00.
Stock Performance and Earnings
Olema Pharmaceuticals currently has a market capitalization of $691.29 million, with a price-to-earnings ratio of -6.12 and a beta of 2.05. The stock’s 50-day moving average stands at $10.69, while the 200-day moving average is $12.12. In its most recent quarterly earnings report, the company posted an earnings per share of ($0.56), falling short of analysts’ expectations by ($0.03). Analysts predict a negative earnings per share of -2.3 for the fiscal year.
Insider Trading and Institutional Investments
Director Cyrus Harmon recently sold 5,000 shares of Olema Pharmaceuticals stock, amounting to $54,650. Following this transaction, the director holds 786,283 shares of the company. Insiders have collectively sold 60,000 shares over the past ninety days, representing 19.40% of the company’s stock. Additionally, various institutional investors have acquired stakes in OLMA, with 91.78% of the stock being owned by hedge funds.
About Olema Pharmaceuticals
Olema Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing therapies for women’s cancers. Its primary product candidate, OP-1250, is currently in Phase 3 clinical trials for the treatment of certain types of breast cancer. The company also has other products in development for the treatment of advanced or metastatic breast cancer.
In conclusion, Olema Pharmaceuticals has seen a positive trend in its stock performance, with analyst recommendations leaning towards a buy rating. The company’s focus on developing treatments for women’s cancers highlights its commitment to addressing critical healthcare needs. Investors and analysts will be closely monitoring the company’s upcoming developments and clinical trial results for further insights into its growth potential in the pharmaceutical industry.