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

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

Other analysts have also issued research reports about the stock. Oppenheimer reaffirmed an “outperform” rating and set a $25.00 target price (down previously from $30.00) on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ OLMA opened at $4.20 on Friday. Olema Pharmaceuticals has a fifty-two week low of $3.93 and a fifty-two week high of $16.62. The stock has a market cap of $287.00 million, a PE ratio of -1.92 and a beta of 2.11. The stock has a fifty day moving average of $5.02 and a 200-day moving average of $8.14.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.12. On average, sell-side analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Transactions at Olema Pharmaceuticals

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new stake in Olema Pharmaceuticals during the fourth quarter worth about $30,000. Hsbc Holdings PLC purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at about $58,000. Teacher Retirement System of Texas bought a new stake in Olema Pharmaceuticals in the 4th quarter worth approximately $60,000. Vontobel Holding Ltd. bought a new stake in Olema Pharmaceuticals in the 4th quarter worth approximately $62,000. Finally, Virtus ETF Advisers LLC boosted its stake in Olema Pharmaceuticals by 43.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock worth $62,000 after buying an additional 3,185 shares in the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

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.