Brokerages Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Target Price at $24.00

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $24.00.

OLMA has been the subject of several recent research reports. Zacks Research raised Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Oppenheimer reiterated an “outperform” rating and issued a $22.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Saturday, September 27th. Citigroup increased their price target on Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th.

Insider Transactions at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 3,086 shares of Olema Pharmaceuticals stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $8.32, for a total transaction of $25,675.52. Following the completion of the sale, the director owned 117,028 shares of the company’s stock, valued at approximately $973,672.96. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 25,000 shares of company stock worth $204,841 over the last three months. 16.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several large investors have recently added to or reduced their stakes in OLMA. Ameritas Investment Partners Inc. boosted its stake in Olema Pharmaceuticals by 55.4% during the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after buying an additional 2,168 shares during the period. Farther Finance Advisors LLC boosted its stake in Olema Pharmaceuticals by 602.9% during the second quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after buying an additional 5,866 shares during the period. FNY Investment Advisers LLC lifted its stake in Olema Pharmaceuticals by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $42,000 after purchasing an additional 5,000 shares during the last quarter. Quarry LP bought a new stake in Olema Pharmaceuticals during the first quarter worth about $45,000. Finally, Alpine Global Management LLC bought a new stake in Olema Pharmaceuticals during the first quarter worth about $52,000. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $11.06 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.09 and a current ratio of 11.09. Olema Pharmaceuticals has a fifty-two week low of $2.86 and a fifty-two week high of $13.51. The company has a market cap of $759.05 million, a price-to-earnings ratio of -5.59 and a beta of 2.08. The stock has a fifty day moving average price of $6.93 and a 200-day moving average price of $5.31.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Monday, August 11th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.08). As a group, equities analysts anticipate that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

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.