Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives $30.00 Consensus PT from Brokerages

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $30.00.

A number of equities research analysts recently commented on OLMA shares. Guggenheim assumed coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. They set a “buy” rating and a $20.00 target price for the company. UBS Group reiterated a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Citigroup raised their price objective on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. upped their target price on Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Finally, Oppenheimer increased their price target on Olema Pharmaceuticals from $22.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th.

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals stock in a transaction that occurred 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 sale, the director directly owned 744,140 shares in the company, valued at $6,198,686.20. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 25,000 shares of company stock valued at $204,841. Company insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in OLMA. Ameritas Investment Partners Inc. grew its stake in Olema Pharmaceuticals by 55.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after purchasing an additional 2,168 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Olema Pharmaceuticals by 21.1% during the second quarter. ProShare Advisors LLC now owns 14,766 shares of the company’s stock worth $63,000 after purchasing an additional 2,569 shares during the period. Bank of America Corp DE lifted its holdings in shares of Olema Pharmaceuticals by 0.4% during the third quarter. Bank of America Corp DE now owns 802,304 shares of the company’s stock worth $7,855,000 after purchasing an additional 2,802 shares during the period. Bank of New York Mellon Corp boosted its position in Olema Pharmaceuticals by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 131,994 shares of the company’s stock valued at $496,000 after buying an additional 3,328 shares during the last quarter. Finally, Corton Capital Inc. increased its holdings in Olema Pharmaceuticals by 25.6% in the 1st quarter. Corton Capital Inc. now owns 21,741 shares of the company’s stock worth $82,000 after buying an additional 4,433 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Olema Pharmaceuticals Stock Performance

Shares of Olema Pharmaceuticals stock opened at $26.07 on Friday. The company has a market capitalization of $1.79 billion, a PE ratio of -13.94 and a beta of 2.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03. The company has a 50-day simple moving average of $10.71 and a two-hundred day simple moving average of $7.09. Olema Pharmaceuticals has a one year low of $2.86 and a one year high of $27.17.

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

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.