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

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

Separately, HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, December 11th.

Olema Pharmaceuticals Price Performance

Shares of OLMA stock traded down $0.24 on Thursday, hitting $5.28. 1,372,277 shares of the company's stock were exchanged, compared to its average volume of 1,397,038. The company has a 50 day moving average of $7.93 and a 200 day moving average of $10.88. The stock has a market cap of $302.54 million, a P/E ratio of -2.41 and a beta of 2.05. Olema Pharmaceuticals has a 12 month low of $4.60 and a 12 month high of $16.77.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, CEO Sean Bohen sold 52,328 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total value of $490,313.36. Following the sale, the chief executive officer now directly owns 298,836 shares of the company's stock, valued at approximately $2,800,093.32. This represents a 14.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were purchased at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the completion of the transaction, the insider now owns 7,800,000 shares of the company's stock, valued at $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 773,797 shares of company stock worth $5,414,609. Insiders own 19.40% of the company's stock.

Institutional Trading of Olema Pharmaceuticals

Several large investors have recently modified their holdings of OLMA. Victory Capital Management Inc. grew its holdings in Olema Pharmaceuticals by 9.9% in the third quarter. Victory Capital Management Inc. now owns 851,512 shares of the company's stock worth $10,167,000 after purchasing an additional 76,720 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Olema Pharmaceuticals by 168.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company's stock valued at $3,949,000 after buying an additional 207,565 shares during the period. Wellington Management Group LLP increased its position in Olema Pharmaceuticals by 10.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company's stock valued at $11,972,000 after buying an additional 97,428 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Olema Pharmaceuticals during the 2nd quarter worth approximately $34,753,000. Finally, Barclays PLC boosted its holdings in Olema Pharmaceuticals by 105.0% in the third quarter. Barclays PLC now owns 94,915 shares of the company's stock worth $1,133,000 after acquiring an additional 48,614 shares in the last quarter. Institutional investors and hedge funds 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.