Olema Pharmaceuticals (NASDAQ:OLMA) Price Target Lowered to $28.00 at JPMorgan Chase & Co.

Olema Pharmaceuticals (NASDAQ:OLMA) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $30.00 to $28.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock.

Several other equities research analysts have also recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $25.00 price target (down previously from $30.00) on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th.

Olema Pharmaceuticals Stock Down 2.1 %

Shares of OLMA opened at $4.11 on Friday. Olema Pharmaceuticals has a 52-week low of $3.93 and a 52-week high of $16.62. The stock has a market cap of $280.85 million, a PE ratio of -1.88 and a beta of 2.11. The firm’s fifty day moving average is $4.98 and its two-hundred day moving average is $8.05.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.12. As a group, research analysts anticipate that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were purchased at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the acquisition, the insider now owns 7,800,000 shares in the company, valued at $44,928,000. The trade was a 4.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.40% of the stock is currently owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bain Capital Life Sciences Investors LLC purchased a new position in Olema Pharmaceuticals in the 4th quarter valued at approximately $43,551,000. Lightspeed Management Company L.L.C. purchased a new position in Olema Pharmaceuticals in the fourth quarter valued at $11,257,000. Paradigm Biocapital Advisors LP grew its stake in Olema Pharmaceuticals by 32.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company’s stock worth $42,588,000 after purchasing an additional 1,801,370 shares in the last quarter. Avoro Capital Advisors LLC purchased a new stake in Olema Pharmaceuticals during the 4th quarter worth about $9,631,000. Finally, Millennium Management LLC raised its position in Olema Pharmaceuticals by 1,154.4% in the 4th quarter. Millennium Management LLC now owns 979,219 shares of the company’s stock valued at $5,709,000 after purchasing an additional 901,159 shares in the last quarter. Hedge funds and other 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.