Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives $27.00 Average Price Target from Analysts

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

Separately, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday, December 11th.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA opened at $6.15 on Friday. The firm has a market capitalization of $352.38 million, a PE ratio of -2.81 and a beta of 1.92. Olema Pharmaceuticals has a 12 month low of $5.56 and a 12 month high of $16.77. The company’s 50 day simple moving average is $9.59 and its 200 day simple moving average is $11.46.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, insider David C. Myles sold 12,452 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.38, for a total value of $116,799.76. Following the completion of the transaction, the insider now directly owns 611,947 shares in the company, valued at $5,740,062.86. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director G. Walmsley Graham sold 700,761 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $6.75, for a total transaction of $4,730,136.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 773,797 shares of company stock worth $5,414,609. 19.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLMA. Ensign Peak Advisors Inc lifted its holdings in shares of Olema Pharmaceuticals by 6.1% in the second quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock valued at $161,000 after purchasing an additional 850 shares in the last quarter. ClariVest Asset Management LLC lifted its stake in Olema Pharmaceuticals by 3.1% in the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock worth $683,000 after acquiring an additional 1,881 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in Olema Pharmaceuticals by 5.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 48,655 shares of the company’s stock worth $581,000 after acquiring an additional 2,407 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Olema Pharmaceuticals by 67.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock valued at $132,000 after acquiring an additional 4,442 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Olema Pharmaceuticals by 52.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,888 shares of the company’s stock valued at $172,000 after purchasing an additional 5,449 shares during the period. 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.