Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Given Average Rating of “Buy” by Brokerages

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has earned an average rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued a report on the stock in the last year is $27.00.

OLMA has been the subject of several analyst reports. Oppenheimer reiterated an “outperform” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, November 13th.

Olema Pharmaceuticals Stock Up 9.1 %

Olema Pharmaceuticals stock opened at $9.72 on Wednesday. Olema Pharmaceuticals has a 52-week low of $7.68 and a 52-week high of $16.77. The firm has a market capitalization of $556.96 million, a price-to-earnings ratio of -4.44 and a beta of 2.02. The firm has a 50-day moving average price of $11.49 and a two-hundred day moving average price of $11.90.

Institutional Investors Weigh In On Olema Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its position in Olema Pharmaceuticals by 14.8% in the third quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company’s stock worth $44,027,000 after acquiring an additional 475,447 shares in the last quarter. State Street Corp grew its stake in shares of Olema Pharmaceuticals by 1.1% in the 3rd quarter. State Street Corp now owns 1,969,963 shares of the company’s stock worth $23,521,000 after purchasing an additional 21,986 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Olema Pharmaceuticals by 74.5% in 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 in the last quarter. Candriam S.C.A. lifted its stake 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 during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Olema Pharmaceuticals by 10.8% during the third quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock worth $11,972,000 after buying an additional 97,428 shares in the last quarter. 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.