Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives $21.43 Average Target Price from Brokerages

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has received an average recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued a report on the stock in the last year is $21.43.

A number of equities research analysts have issued reports on OLMA shares. Citigroup started coverage on Olema Pharmaceuticals in a research report on Tuesday, January 30th. They set a “buy” rating and a $20.00 price objective on the stock. Capital One Financial reaffirmed an “overweight” rating on shares of Olema Pharmaceuticals in a research note on Thursday, February 22nd. Finally, The Goldman Sachs Group initiated coverage on Olema Pharmaceuticals in a research note on Tuesday, April 2nd. They set a “buy” rating and a $24.00 target price on the stock.

Insider Activity

In other news, Director Cyrus Harmon sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $12.41, for a total value of $310,250.00. Following the completion of the transaction, the director now owns 846,283 shares of the company’s stock, valued at approximately $10,502,372.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 70,000 shares of company stock valued at $835,400 in the last quarter. 23.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Olema Pharmaceuticals by 682.4% in the 2nd quarter. Royal Bank of Canada now owns 2,801 shares of the company’s stock valued at $25,000 after purchasing an additional 2,443 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $28,000. Balyasny Asset Management LLC purchased a new position in shares of Olema Pharmaceuticals in the 3rd quarter valued at about $33,000. Virtu Financial LLC purchased a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $33,000. Finally, Citigroup Inc. purchased a new position in shares of Olema Pharmaceuticals in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Trading Down 7.6 %

NASDAQ:OLMA opened at $9.90 on Tuesday. The company has a market capitalization of $553.61 million, a P/E ratio of -4.58 and a beta of 2.10. Olema Pharmaceuticals has a 12 month low of $3.64 and a 12 month high of $17.79. The business’s 50-day moving average is $12.52 and its 200 day moving average is $12.95.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its earnings results on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting analysts’ consensus estimates of ($0.49). On average, research analysts forecast that Olema Pharmaceuticals will post -2.34 earnings per share for the current year.

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.