Oppenheimer Cuts Olema Pharmaceuticals (NASDAQ:OLMA) Price Target to $22.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its price objective reduced by Oppenheimer from $25.00 to $22.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently commented on OLMA. JPMorgan Chase & Co. dropped their target price on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Monday, April 28th.

Olema Pharmaceuticals Stock Up 0.4%

NASDAQ OLMA opened at $4.71 on Wednesday. The company has a market capitalization of $321.98 million, a P/E ratio of -2.15 and a beta of 2.03. Olema Pharmaceuticals has a 12-month low of $2.86 and a 12-month high of $16.62. The firm has a 50-day moving average price of $4.29 and a two-hundred day moving average price of $6.12.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.13. Equities analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Olema Pharmaceuticals by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 332,950 shares of the company’s stock valued at $1,941,000 after purchasing an additional 2,189 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Olema Pharmaceuticals by 22.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 14,892 shares of the company’s stock valued at $56,000 after buying an additional 2,743 shares in the last quarter. Boothbay Fund Management LLC lifted its stake in shares of Olema Pharmaceuticals by 10.8% in the fourth quarter. Boothbay Fund Management LLC now owns 31,226 shares of the company’s stock valued at $182,000 after buying an additional 3,056 shares in the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of Olema Pharmaceuticals by 43.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock valued at $62,000 after purchasing an additional 3,185 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Olema Pharmaceuticals by 30.2% in the fourth quarter. ProShare Advisors LLC now owns 14,226 shares of the company’s stock valued at $83,000 after purchasing an additional 3,298 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Olema Pharmaceuticals Company Profile

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.