Olema Pharmaceuticals (NASDAQ:OLMA) Price Target Increased to $28.00 by Analysts at HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA) had its price objective hoisted by stock analysts at HC Wainwright from $25.00 to $28.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 184.55% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. Citigroup initiated coverage on Olema Pharmaceuticals in a research report on Tuesday, January 30th. They set a “buy” rating and a $20.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Olema Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “buy” rating and a $24.00 price target for the company. Finally, Capital One Financial restated an “overweight” rating on shares of Olema Pharmaceuticals in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Olema Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $21.43.

Olema Pharmaceuticals Stock Performance

Olema Pharmaceuticals stock traded down $1.01 during midday trading on Thursday, reaching $9.84. 1,170,259 shares of the company were exchanged, compared to its average volume of 778,352. The company has a market capitalization of $550.35 million, a price-to-earnings ratio of -4.52 and a beta of 2.10. Olema Pharmaceuticals has a 1 year low of $5.02 and a 1 year high of $17.79. The firm’s 50-day simple moving average is $11.34 and its 200-day simple moving average is $12.83.

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

Insider Activity

In related news, Director Cyrus Harmon sold 25,000 shares of Olema Pharmaceuticals stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.41, for a total value of $310,250.00. Following the sale, the director now directly owns 846,283 shares in the company, valued at approximately $10,502,372.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 65,000 shares of company stock valued at $726,900. 23.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of Olema Pharmaceuticals during the third quarter valued at approximately $142,000. Raymond James & Associates acquired a new position in shares of Olema Pharmaceuticals during the 3rd quarter valued at $370,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Olema Pharmaceuticals in the 3rd quarter worth $164,000. Victory Capital Management Inc. bought a new position in Olema Pharmaceuticals during the third quarter valued at about $784,000. Finally, Vivo Capital LLC grew its holdings in Olema Pharmaceuticals by 39.9% during the third quarter. Vivo Capital LLC now owns 1,873,704 shares of the company’s stock worth $23,140,000 after acquiring an additional 534,433 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.

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.