Brokerages Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Price Target at $44.10

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $44.10.

OLMA has been the topic of a number of recent research reports. Oppenheimer reiterated an “outperform” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Guggenheim lowered their target price on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. JPMorgan Chase & Co. increased their target price on Olema Pharmaceuticals from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Stifel Nicolaus initiated coverage on Olema Pharmaceuticals in a research note on Wednesday, February 11th. They set a “buy” rating and a $48.00 target price on the stock. Finally, Citigroup increased their target price on Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, March 17th.

Insider Buying and Selling

In other Olema Pharmaceuticals news, insider Shawnte Mitchell sold 25,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total transaction of $606,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in OLMA. AQR Capital Management LLC bought a new position in Olema Pharmaceuticals during the 1st quarter worth $172,000. Goldman Sachs Group Inc. increased its stake in Olema Pharmaceuticals by 93.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after acquiring an additional 358,412 shares during the period. Jane Street Group LLC increased its stake in Olema Pharmaceuticals by 216.8% during the 1st quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock worth $521,000 after acquiring an additional 94,815 shares during the period. Geode Capital Management LLC increased its stake in Olema Pharmaceuticals by 22.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock worth $5,650,000 after acquiring an additional 242,997 shares during the period. Finally, Creative Planning bought a new position in Olema Pharmaceuticals during the 2nd quarter worth $83,000. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ OLMA opened at $14.06 on Friday. The firm has a market cap of $1.23 billion, a P/E ratio of -6.96 and a beta of 2.05. The company has a current ratio of 10.88, a quick ratio of 10.88 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals has a 1-year low of $3.89 and a 1-year high of $36.26. The business’s 50 day moving average is $14.95 and its 200-day moving average is $20.66.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.52). Equities research analysts predict that Olema Pharmaceuticals will post -2.16 earnings per share for the current year.

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.