Brokerages Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Target Price at $22.00

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been given an average recommendation of “Buy” by the seven brokerages that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $22.00.

OLMA has been the topic of several research reports. The Goldman Sachs Group initiated coverage on Olema Pharmaceuticals in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Tuesday, June 4th.

Olema Pharmaceuticals Trading Down 6.6 %

Shares of OLMA opened at $10.41 on Friday. The firm has a market capitalization of $582.27 million, a P/E ratio of -5.15 and a beta of 2.06. The stock’s fifty day simple moving average is $10.87 and its 200 day simple moving average is $11.99. Olema Pharmaceuticals has a twelve month low of $7.78 and a twelve month high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Wednesday, May 8th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.03). Sell-side analysts predict that Olema Pharmaceuticals will post -2.3 earnings per share for the current year.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $10.92, for a total transaction of $54,600.00. Following the completion of the sale, the director now directly owns 806,283 shares in the company, valued at $8,804,610.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 60,000 shares of company stock worth $608,450. Corporate insiders own 19.40% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

Large investors have recently modified their holdings of the business. First Light Asset Management LLC acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at about $8,854,000. Swiss National Bank acquired a new position in Olema Pharmaceuticals in the fourth quarter worth about $906,000. Perceptive Advisors LLC acquired a new position in Olema Pharmaceuticals in the fourth quarter worth about $7,574,000. Victory Capital Management Inc. grew its stake in Olema Pharmaceuticals by 879.6% in the fourth quarter. Victory Capital Management Inc. now owns 621,527 shares of the company’s stock worth $8,720,000 after purchasing an additional 558,077 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Olema Pharmaceuticals by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock worth $24,069,000 after purchasing an additional 21,420 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.