HC Wainwright Reaffirms “Buy” Rating for Olema Pharmaceuticals (NASDAQ:OLMA)

HC Wainwright reissued their buy rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report issued on Wednesday,Benzinga reports. The firm currently has a $30.00 price target on the stock. HC Wainwright also issued estimates for Olema Pharmaceuticals’ Q4 2024 earnings at ($0.53) EPS, FY2024 earnings at ($2.23) EPS, Q1 2025 earnings at ($0.64) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.89) EPS, Q4 2025 earnings at ($0.97) EPS, FY2025 earnings at ($3.25) EPS, FY2026 earnings at ($4.14) EPS, FY2027 earnings at ($3.84) EPS and FY2028 earnings at ($3.28) EPS.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $6.75 on Wednesday. The firm has a market capitalization of $386.76 million, a PE ratio of -3.08 and a beta of 1.92. The business has a 50 day simple moving average of $10.70 and a two-hundred day simple moving average of $11.86. Olema Pharmaceuticals has a 1 year low of $6.24 and a 1 year high of $16.77.

Insiders Place Their Bets

In other news, CEO Sean Bohen sold 52,328 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total transaction of $490,313.36. Following the completion of the sale, the chief executive officer now directly owns 298,836 shares of the company’s stock, valued at approximately $2,800,093.32. The trade was a 14.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David C. Myles sold 12,452 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.38, for a total transaction of $116,799.76. Following the completion of the transaction, the insider now directly owns 611,947 shares in the company, valued at $5,740,062.86. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,036 shares of company stock worth $684,472 over the last quarter. Company insiders own 19.40% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of OLMA. Price T Rowe Associates Inc. MD increased its holdings in Olema Pharmaceuticals by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock worth $298,000 after purchasing an additional 1,486 shares during the period. California State Teachers Retirement System increased its stake in shares of Olema Pharmaceuticals by 3.4% during the first quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock valued at $393,000 after buying an additional 1,132 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Olema Pharmaceuticals in the second quarter valued at about $945,000. Bank of New York Mellon Corp lifted its stake in Olema Pharmaceuticals by 72.1% in the second quarter. Bank of New York Mellon Corp now owns 139,923 shares of the company’s stock worth $1,514,000 after acquiring an additional 58,622 shares during the period. Finally, Rhumbline Advisers grew its holdings in Olema Pharmaceuticals by 43.5% during the 2nd quarter. Rhumbline Advisers now owns 59,261 shares of the company’s stock worth $641,000 after acquiring an additional 17,953 shares in the last quarter. 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.