Analysts Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Target Price at $41.00

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have earned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $41.00.

Several equities analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Oppenheimer boosted their price objective on shares of Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. Guggenheim initiated coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Piper Sandler began coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $40.00 price target for the company.

Insider Activity

In other news, Director Cyrus Harmon sold 2,881 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $28.53, for a total value of $82,194.93. Following the completion of the sale, the director directly owned 741,259 shares in the company, valued at $21,148,119.27. This trade represents a 0.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Shane William Charles Kovacs sold 100,000 shares of the firm’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the transaction, the insider directly owned 139,727 shares in the company, valued at $4,014,356.71. This trade represents a 41.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 752,012 shares of company stock worth $21,682,032. Company insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its position in shares of Olema Pharmaceuticals by 55.4% in the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after purchasing an additional 2,168 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Olema Pharmaceuticals by 602.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock worth $29,000 after purchasing an additional 5,866 shares during the period. FNY Investment Advisers LLC grew its holdings in Olema Pharmaceuticals by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after buying an additional 5,000 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Olema Pharmaceuticals during the third quarter valued at about $53,000. Finally, American Century Companies Inc. bought a new stake in shares of Olema Pharmaceuticals during the second quarter valued at about $54,000. 91.78% of the stock is owned by institutional investors.

Olema Pharmaceuticals Stock Performance

Shares of OLMA stock opened at $27.14 on Monday. The stock has a 50-day moving average of $25.08 and a 200-day moving average of $13.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. The stock has a market cap of $1.86 billion, a PE ratio of -14.51 and a beta of 1.92. Olema Pharmaceuticals has a one year low of $2.86 and a one year high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). As a group, sell-side analysts expect that Olema Pharmaceuticals will post -2.33 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.