Brokerages Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) PT at $27.00

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been given an average rating of “Buy” by the six ratings firms that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $27.00.

OLMA has been the subject of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 20,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $10.77, for a total value of $215,400.00. Following the sale, the director now owns 761,283 shares of the company’s stock, valued at $8,199,017.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Cyrus Harmon sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $10.77, for a total value of $215,400.00. Following the completion of the transaction, the director now owns 761,283 shares in the company, valued at approximately $8,199,017.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the sale, the insider now owns 783,118 shares in the company, valued at approximately $11,676,289.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,429,066 shares of company stock valued at $36,124,048. 19.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Swiss National Bank bought a new stake in Olema Pharmaceuticals during the fourth quarter worth $906,000. Jump Financial LLC acquired a new position in shares of Olema Pharmaceuticals during the 4th quarter worth about $279,000. Dimensional Fund Advisors LP raised its holdings in shares of Olema Pharmaceuticals by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock valued at $24,069,000 after purchasing an additional 21,420 shares during the period. First Light Asset Management LLC acquired a new stake in Olema Pharmaceuticals in the 4th quarter valued at about $8,854,000. Finally, Perceptive Advisors LLC acquired a new stake in Olema Pharmaceuticals in the 4th quarter valued at about $7,574,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Trading Up 0.4 %

Olema Pharmaceuticals stock opened at $12.27 on Friday. The company has a market cap of $702.70 million, a PE ratio of -6.07 and a beta of 2.03. Olema Pharmaceuticals has a 1 year low of $8.51 and a 1 year high of $17.79. The company’s 50-day moving average is $13.00 and its two-hundred day moving average is $11.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.54). Research analysts forecast that Olema Pharmaceuticals will post -1.51 EPS for the current year.

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.