Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives $22.00 Average PT from Brokerages

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has earned a consensus recommendation of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $22.00.

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

Olema Pharmaceuticals Price Performance

OLMA opened at $15.19 on Thursday. The stock has a market capitalization of $849.58 million, a PE ratio of -7.52 and a beta of 2.06. The firm’s fifty day moving average price is $12.08 and its 200 day moving average price is $12.01. Olema Pharmaceuticals has a 12-month low of $7.78 and a 12-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 analysts’ consensus estimates of ($0.53) by ($0.03). On average, equities research analysts forecast that Olema Pharmaceuticals will post -2.3 earnings per share for the current fiscal year.

Insider Transactions at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $12.26, for a total transaction of $61,300.00. Following the completion of the transaction, the director now owns 756,283 shares in the company, valued at $9,272,029.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 50,000 shares of company stock worth $527,100. Insiders own 19.40% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Light Asset Management LLC bought a new position in Olema Pharmaceuticals in the 4th quarter valued at about $8,854,000. Swiss National Bank bought a new position in Olema Pharmaceuticals in the 4th quarter valued at about $906,000. Perceptive Advisors LLC bought a new position in Olema Pharmaceuticals in the 4th quarter valued at about $7,574,000. Dimensional Fund Advisors LP grew its position in Olema Pharmaceuticals by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock valued at $24,069,000 after buying an additional 21,420 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Olema Pharmaceuticals by 879.6% in the 4th quarter. Victory Capital Management Inc. now owns 621,527 shares of the company’s stock valued at $8,720,000 after buying an additional 558,077 shares in the last quarter. Institutional investors 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.