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

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $27.00.

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

Insider Activity

In related news, insider David C. Myles sold 12,452 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $9.38, for a total value of $116,799.76. Following the completion of the sale, the insider now owns 611,947 shares in the company, valued at approximately $5,740,062.86. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cyrus Harmon sold 8,256 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total value of $77,358.72. Following the transaction, the director now owns 772,277 shares in the company, valued at $7,236,235.49. This trade 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 valued at $5,414,609 in the last quarter. Insiders own 19.40% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Conway Capital Management Inc. acquired a new stake in shares of Olema Pharmaceuticals during the third quarter worth about $119,000. China Universal Asset Management Co. Ltd. increased its stake in Olema Pharmaceuticals by 67.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock worth $132,000 after buying an additional 4,442 shares during the period. Portland Investment Counsel Inc. acquired a new stake in Olema Pharmaceuticals during the 3rd quarter worth approximately $143,000. Cubist Systematic Strategies LLC purchased a new position in Olema Pharmaceuticals in the 2nd quarter valued at approximately $145,000. Finally, SG Americas Securities LLC acquired a new position in shares of Olema Pharmaceuticals in the third quarter worth $156,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Stock Up 0.3 %

Shares of OLMA opened at $6.32 on Friday. Olema Pharmaceuticals has a 52-week low of $5.56 and a 52-week high of $16.77. The stock has a fifty day simple moving average of $10.06 and a two-hundred day simple moving average of $11.64. The company has a market capitalization of $362.12 million, a PE ratio of -2.89 and a beta of 1.92.

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.