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

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have earned a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.43.

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

Insiders Place Their Bets

In other news, Director Cyrus Harmon sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $10.97, for a total transaction of $219,400.00. Following the completion of the sale, the director now owns 826,283 shares of the company’s stock, valued at approximately $9,064,324.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 70,000 shares of company stock valued at $835,400. Insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OLMA. Perceptive Advisors LLC purchased a new position in Olema Pharmaceuticals during the fourth quarter valued at $7,574,000. First Light Asset Management LLC purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at about $8,854,000. Dimensional Fund Advisors LP grew its stake in shares of Olema Pharmaceuticals by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock valued at $24,069,000 after acquiring an additional 21,420 shares during the period. Jump Financial LLC bought a new stake in Olema Pharmaceuticals during the 4th quarter worth approximately $279,000. Finally, Swiss National Bank purchased a new stake in Olema Pharmaceuticals in the 4th quarter worth $906,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

Shares of Olema Pharmaceuticals stock opened at $9.87 on Tuesday. The stock has a market cap of $551.88 million, a price-to-earnings ratio of -4.57 and a beta of 2.10. Olema Pharmaceuticals has a 1 year low of $3.93 and a 1 year high of $17.79. The firm’s 50-day moving average is $12.27 and its 200 day moving average is $12.95.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). On average, equities analysts expect that Olema Pharmaceuticals will post -2.34 EPS for the current fiscal 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.