Analysts Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Target Price at $27.00

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $27.00.

Several research firms have commented on OLMA. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th.

Olema Pharmaceuticals Stock Up 6.2 %

OLMA opened at $13.60 on Friday. The company has a market capitalization of $778.87 million, a PE ratio of -6.73 and a beta of 2.03. The firm has a 50-day simple moving average of $13.03 and a two-hundred day simple moving average of $11.79. Olema Pharmaceuticals has a 52 week low of $8.51 and a 52 week high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share for the quarter, meeting the consensus estimate of ($0.54). As a group, sell-side analysts expect that Olema Pharmaceuticals will post -1.51 earnings per share for the current year.

Insider Transactions at Olema Pharmaceuticals

In other news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $14.91, for a total value of $35,784,000.00. Following the transaction, the insider now directly owns 783,118 shares in the company, valued at $11,676,289.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 783,118 shares of the company’s stock, valued at $11,676,289.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Cyrus Harmon sold 4,066 shares of Olema Pharmaceuticals stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.58, for a total value of $63,348.28. Following the sale, the director now directly owns 752,217 shares of the company’s stock, valued at $11,719,540.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,429,066 shares of company stock worth $36,124,048. 19.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

Large investors have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in Olema Pharmaceuticals during the second quarter valued at approximately $34,753,000. Dimensional Fund Advisors LP increased 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 acquiring an additional 21,420 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Olema Pharmaceuticals by 74.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after purchasing an additional 521,562 shares during the last quarter. Candriam S.C.A. boosted its position in Olema Pharmaceuticals by 199.9% during the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock valued at $11,454,000 after purchasing an additional 705,655 shares in the last quarter. Finally, Great Point Partners LLC purchased a new position in Olema Pharmaceuticals in the second quarter valued at about $8,622,000. Institutional investors own 91.78% of the company’s stock.

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.