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

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $21.43.

A number of research analysts have recently issued reports on OLMA shares. Citigroup started coverage on shares of Olema Pharmaceuticals in a research report on Tuesday, January 30th. They issued a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Olema Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Olema Pharmaceuticals in a report on Thursday, February 22nd.

Insider Transactions at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 25,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 846,283 shares in the company, valued at $10,502,372.03. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 70,000 shares of company stock valued at $835,400 in the last quarter. Insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MPM Bioimpact LLC increased its position in Olema Pharmaceuticals by 301.7% during the third quarter. MPM Bioimpact LLC now owns 1,857,681 shares of the company’s stock worth $22,942,000 after acquiring an additional 1,395,181 shares during the period. Dimensional Fund Advisors LP boosted its stake in Olema Pharmaceuticals by 651.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,602,556 shares of the company’s stock worth $14,470,000 after buying an additional 1,389,244 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Olema Pharmaceuticals by 134.2% in the 2nd quarter. BlackRock Inc. now owns 2,333,300 shares of the company’s stock worth $21,070,000 after purchasing an additional 1,337,123 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Olema Pharmaceuticals by 58.2% in the 4th quarter. Vanguard Group Inc. now owns 2,705,895 shares of the company’s stock worth $37,964,000 after purchasing an additional 995,588 shares during the last quarter. Finally, Polar Capital Holdings Plc bought a new stake in Olema Pharmaceuticals during the 3rd quarter worth about $9,262,000. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

Olema Pharmaceuticals stock opened at $9.90 on Tuesday. The firm’s 50-day moving average is $12.52 and its 200-day moving average is $12.95. Olema Pharmaceuticals has a 1 year low of $3.64 and a 1 year high of $17.79. The company has a market cap of $553.61 million, a P/E ratio of -4.58 and a beta of 2.10.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.49). As a group, sell-side analysts predict that Olema Pharmaceuticals will post -2.34 earnings per share for the current year.

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.