Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Olema Pharmaceuticals (NASDAQ:OLMA) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $18.00 to $26.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 12.21% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Oppenheimer raised their price target on shares of Olema Pharmaceuticals from $22.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. Guggenheim began coverage on Olema Pharmaceuticals in a research note on Wednesday, October 8th. They set a “buy” rating and a $20.00 target price on the stock. Citigroup boosted their price target on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Finally, UBS Group reissued a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.00.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ OLMA opened at $23.17 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. The firm has a market capitalization of $1.59 billion, a PE ratio of -12.39 and a beta of 2.07. Olema Pharmaceuticals has a 1-year low of $2.86 and a 1-year high of $27.17. The business’s fifty day moving average price is $10.01 and its two-hundred day moving average price is $6.78.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.05). On average, research analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 3,086 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 117,028 shares in the company, valued at $973,672.96. This represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 25,000 shares of company stock valued at $204,841 in the last ninety days. Corporate insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Olema Pharmaceuticals by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 131,994 shares of the company’s stock valued at $496,000 after purchasing an additional 3,328 shares in the last quarter. Corton Capital Inc. lifted its stake in Olema Pharmaceuticals by 25.6% during the first quarter. Corton Capital Inc. now owns 21,741 shares of the company’s stock valued at $82,000 after purchasing an additional 4,433 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Olema Pharmaceuticals by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 349,023 shares of the company’s stock worth $1,312,000 after buying an additional 16,073 shares in the last quarter. Deutsche Bank AG grew its position in Olema Pharmaceuticals by 38.1% in the first quarter. Deutsche Bank AG now owns 54,329 shares of the company’s stock worth $204,000 after buying an additional 14,998 shares during the last quarter. Finally, Invesco Ltd. grew its position in Olema Pharmaceuticals by 208.9% in the first quarter. Invesco Ltd. now owns 50,810 shares of the company’s stock worth $191,000 after buying an additional 34,362 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors.

About Olema Pharmaceuticals

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.