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

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been assigned a consensus rating of “Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $27.00.

Separately, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, December 11th.

Insider Activity

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were bought at an average price of $5.76 per share, for a total transaction 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 approximately $44,928,000. This represents a 4.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cyrus Harmon sold 8,256 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total value of $77,358.72. Following the completion of the transaction, the director now owns 772,277 shares in the company, valued at $7,236,235.49. This represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 773,797 shares of company stock worth $5,414,609 over the last ninety days. Company insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OLMA. Point72 Asset Management L.P. bought a new position in Olema Pharmaceuticals during the second quarter valued at approximately $34,753,000. Great Point Partners LLC purchased a new stake in shares of Olema Pharmaceuticals in the 2nd quarter valued at $8,622,000. Affinity Asset Advisors LLC bought a new position in shares of Olema Pharmaceuticals during the 2nd quarter valued at $2,976,000. Charles Schwab Investment Management Inc. raised its position in Olema Pharmaceuticals by 168.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company’s stock worth $3,949,000 after purchasing an additional 207,565 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Olema Pharmaceuticals by 658.7% in the third quarter. JPMorgan Chase & Co. now owns 181,032 shares of the company’s stock worth $2,162,000 after purchasing an additional 157,171 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

OLMA stock opened at $5.66 on Thursday. The stock has a fifty day moving average of $7.65 and a 200-day moving average of $10.81. Olema Pharmaceuticals has a fifty-two week low of $4.60 and a fifty-two week high of $16.77. The company has a market capitalization of $324.32 million, a price-to-earnings ratio of -2.58 and a beta of 2.05.

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.