Olema Pharmaceuticals (NASDAQ:OLMA) Given New $45.00 Price Target at Oppenheimer

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target upped by Oppenheimer from $22.00 to $45.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group reiterated a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. JPMorgan Chase & Co. raised their price objective on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup upped their target price on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. HC Wainwright increased their price target on Olema Pharmaceuticals from $28.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Olema Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

Olema Pharmaceuticals Trading Up 136.4%

Shares of OLMA opened at $20.14 on Tuesday. The stock’s fifty day simple moving average is $9.19 and its 200-day simple moving average is $6.44. The firm has a market capitalization of $1.38 billion, a PE ratio of -10.77 and a beta of 2.07. Olema Pharmaceuticals has a 12-month low of $2.86 and a 12-month high of $27.17. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). As a group, research analysts predict that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 10,000 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $8.33, for a total value of $83,300.00. Following the completion of the transaction, the director owned 744,140 shares of the company’s stock, valued at $6,198,686.20. The trade was a 1.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 25,000 shares of company stock worth $204,841 over the last quarter. Company insiders own 16.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd lifted its stake in Olema Pharmaceuticals by 153.8% in the second quarter. Persistent Asset Partners Ltd now owns 58,333 shares of the company’s stock valued at $248,000 after buying an additional 35,345 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Olema Pharmaceuticals by 93.6% during the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after acquiring an additional 358,412 shares during the period. Affinity Asset Advisors LLC acquired a new stake in shares of Olema Pharmaceuticals during the first quarter worth $1,222,000. Nuveen LLC bought a new stake in Olema Pharmaceuticals in the 1st quarter valued at $1,295,000. Finally, PDT Partners LLC acquired a new position in Olema Pharmaceuticals in the 1st quarter worth $279,000. 91.78% of the stock is currently owned by institutional investors.

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.