Olema Pharmaceuticals (NASDAQ:OLMA) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Olema Pharmaceuticals (NASDAQ:OLMAGet Rating) from a sell rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

According to Zacks, “Olema Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It engages in discovery, development and commercialization of therapies for women’s cancers. The company’s product pipeline includes OP-1250, which is in clinical stage. Olema Pharmaceuticals Inc. is based in San Francisco, California. “

Separately, HC Wainwright assumed coverage on shares of Olema Pharmaceuticals in a research note on Monday, February 28th. They set a neutral rating for the company.

NASDAQ OLMA opened at $2.55 on Friday. The business has a 50 day simple moving average of $4.03 and a 200 day simple moving average of $10.60. Olema Pharmaceuticals has a 52-week low of $2.53 and a 52-week high of $32.77.

Olema Pharmaceuticals (NASDAQ:OLMAGet Rating) last posted its earnings results on Monday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.03). As a group, sell-side analysts expect that Olema Pharmaceuticals will post -2.79 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dupont Capital Management Corp acquired a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at approximately $173,000. Renaissance Technologies LLC acquired a new stake in Olema Pharmaceuticals during the 3rd quarter valued at $2,698,000. Two Sigma Investments LP acquired a new stake in Olema Pharmaceuticals during the 3rd quarter valued at $2,742,000. Geode Capital Management LLC lifted its holdings in Olema Pharmaceuticals by 118.9% during 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 during the last quarter. Finally, Wellington Management Group LLP increased its position in Olema Pharmaceuticals by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,649,204 shares of the company’s stock worth $45,451,000 after buying an additional 32,906 shares during the period.

Olema Pharmaceuticals Company Profile (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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