Olema Pharmaceuticals (NASDAQ:OLMA) Given New $38.00 Price Target at HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target cut by HC Wainwright from $45.00 to $38.00 in a research report report published on Monday, Marketbeat reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Citigroup upped their price target on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 12th. JPMorgan Chase & Co. increased their price target on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Thursday, January 22nd. Finally, UBS Group began coverage on Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set a “buy” rating and a $45.00 price objective for the company. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Olema Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Olema Pharmaceuticals Trading Down 25.8%

NASDAQ:OLMA opened at $16.00 on Monday. The company has a market capitalization of $1.10 billion, a PE ratio of -8.56 and a beta of 1.93. 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 has a 52-week low of $2.86 and a 52-week high of $36.26. The stock has a fifty day simple moving average of $24.97 and a 200-day simple moving average of $18.31.

Insider Buying and Selling

In other Olema Pharmaceuticals news, insider Shane William Charles Kovacs sold 100,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the sale, the insider directly owned 139,727 shares of the company’s stock, valued at $4,014,356.71. This trade represents a 41.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David C. Myles sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $30.46, for a total transaction of $1,553,460.00. Following the sale, the insider directly owned 551,881 shares in the company, valued at $16,810,295.26. This represents a 8.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 805,501 shares of company stock worth $23,003,832 in the last 90 days. 16.36% of the stock is currently owned by corporate insiders.

Institutional Trading of Olema Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its holdings in Olema Pharmaceuticals by 55.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after acquiring an additional 2,168 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Olema Pharmaceuticals by 9,476.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock valued at $31,000 after purchasing an additional 1,232 shares during the period. Torren Management LLC purchased a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at $44,000. Russell Investments Group Ltd. acquired a new position in Olema Pharmaceuticals in the third quarter valued at $53,000. Finally, American Century Companies Inc. acquired a new position in Olema Pharmaceuticals in the second quarter valued at $54,000. 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.