Olema Pharmaceuticals (NASDAQ:OLMA) Price Target Raised to $32.00 at JPMorgan Chase & Co.

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target boosted by JPMorgan Chase & Co. from $29.00 to $32.00 in a report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also commented on OLMA. Citigroup lifted their price objective on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. UBS Group reissued a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Zacks Research upgraded Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Guggenheim started coverage on Olema Pharmaceuticals in a research note on Wednesday, October 8th. They set a “buy” rating and a $20.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.67.

Olema Pharmaceuticals Price Performance

OLMA stock opened at $20.14 on Tuesday. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.38 billion, a P/E ratio of -10.77 and a beta of 2.07. The business has a 50 day simple moving average of $9.19 and a 200-day simple moving average of $6.44. Olema Pharmaceuticals has a twelve month low of $2.86 and a twelve month high of $27.17.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results 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, equities analysts anticipate that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Buying and Selling at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 3,086 shares of Olema Pharmaceuticals stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $8.32, for a total value of $25,675.52. Following the sale, the director directly owned 117,028 shares in the company, valued at $973,672.96. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 25,000 shares of company stock valued at $204,841 in the last quarter. 16.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its position in shares of Olema Pharmaceuticals by 55.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after purchasing an additional 2,168 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Olema Pharmaceuticals by 602.9% in the second quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after purchasing an additional 5,866 shares during the period. FNY Investment Advisers LLC lifted its stake in shares of Olema Pharmaceuticals by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after purchasing an additional 5,000 shares during the period. Quarry LP purchased a new stake in Olema Pharmaceuticals during the first quarter worth about $45,000. Finally, Alpine Global Management LLC acquired a new position in Olema Pharmaceuticals during the first quarter worth about $52,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

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.