Brokerages Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) PT at $41.78

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have received an average recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $41.7778.

Several research firms have issued reports on OLMA. Piper Sandler started coverage on Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set an “overweight” rating and a $40.00 target price on the stock. Oppenheimer lifted their price target on Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. The Goldman Sachs Group upped their price objective on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus began coverage on Olema Pharmaceuticals in a report on Wednesday, February 11th. They issued a “buy” rating and a $48.00 target price for the company.

Olema Pharmaceuticals Stock Down 7.3%

Shares of NASDAQ:OLMA opened at $22.56 on Tuesday. Olema Pharmaceuticals has a fifty-two week low of $2.86 and a fifty-two week high of $36.26. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $25.25 and its 200-day simple moving average is $17.95. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -12.06 and a beta of 1.92.

Insider Transactions at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $26.88, for a total value of $268,800.00. Following the completion of the sale, the director owned 727,770 shares in the company, valued at $19,562,457.60. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawnte Mitchell sold 25,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total transaction of $606,250.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 805,501 shares of company stock valued at $23,003,832. 16.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of OLMA. Virtu Financial LLC acquired a new position in Olema Pharmaceuticals during the fourth quarter worth $1,061,000. Invesco Ltd. increased its position in shares of Olema Pharmaceuticals by 25.0% in the fourth quarter. Invesco Ltd. now owns 155,732 shares of the company’s stock valued at $3,893,000 after buying an additional 31,098 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Olema Pharmaceuticals in the fourth quarter valued at $250,000. Vestal Point Capital LP acquired a new position in shares of Olema Pharmaceuticals during the 4th quarter worth $41,250,000. Finally, Wellington Management Group LLP grew its stake in Olema Pharmaceuticals by 8.2% in the 4th quarter. Wellington Management Group LLP now owns 220,971 shares of the company’s stock valued at $5,524,000 after acquiring an additional 16,764 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

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.