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

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) has been assigned an average rating of "Buy" from the six research firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.00.

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective 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. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, Oppenheimer restated an "outperform" rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th.

Olema Pharmaceuticals Trading Up 0.6 %

Shares of OLMA traded up $0.07 during mid-day trading on Tuesday, hitting $11.40. 248,163 shares of the company's stock were exchanged, compared to its average volume of 785,841. Olema Pharmaceuticals has a fifty-two week low of $8.51 and a fifty-two week high of $17.79. The business's 50 day moving average is $12.51 and its two-hundred day moving average is $11.77. The firm has a market capitalization of $637.65 million, a P/E ratio of -5.68 and a beta of 2.02.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.54) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.54). On average, equities research analysts forecast that Olema Pharmaceuticals will post -1.51 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the company's 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 sale, the insider now owns 783,118 shares in the company, valued at $11,676,289.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 4,066 shares of the firm's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.58, for a total transaction of $63,348.28. Following the completion of the transaction, the director now directly owns 752,217 shares in the company, valued at approximately $11,719,540.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the completion of the sale, the insider now directly owns 783,118 shares in the company, valued at $11,676,289.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,409,066 shares of company stock valued at $35,908,648. Corporate insiders own 19.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. grew its holdings in Olema Pharmaceuticals by 66.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,562 shares of the company's stock valued at $120,000 after buying an additional 4,221 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Olema Pharmaceuticals during the 3rd quarter worth about $156,000. Cubist Systematic Strategies LLC acquired a new position in Olema Pharmaceuticals in the 2nd quarter valued at about $145,000. Entropy Technologies LP purchased a new position in Olema Pharmaceuticals in the 1st quarter valued at about $161,000. Finally, EntryPoint Capital LLC boosted its stake in shares of Olema Pharmaceuticals by 949.9% during the 1st quarter. EntryPoint Capital LLC now owns 14,530 shares of the company's stock worth $164,000 after purchasing an additional 13,146 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

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.