Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives $27.00 Average PT from Brokerages

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been assigned an average rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $27.00.

A number of brokerages have commented on OLMA. Oppenheimer reiterated an “outperform” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Thursday, October 24th.

Institutional Trading of Olema Pharmaceuticals

A number of large investors have recently modified their holdings of OLMA. Point72 Asset Management L.P. bought a new stake in Olema Pharmaceuticals during the 2nd quarter valued at $34,753,000. Great Point Partners LLC bought a new stake in shares of Olema Pharmaceuticals during the second quarter valued at about $8,622,000. Candriam S.C.A. lifted its holdings in Olema Pharmaceuticals by 199.9% in the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock worth $11,454,000 after purchasing an additional 705,655 shares during the period. Janus Henderson Group PLC grew its position in Olema Pharmaceuticals by 74.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock valued at $13,817,000 after buying an additional 521,562 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new position in Olema Pharmaceuticals during the 2nd quarter valued at about $2,976,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA opened at $12.52 on Friday. The business’s 50-day moving average is $12.01 and its two-hundred day moving average is $11.90. The firm has a market capitalization of $717.02 million, a PE ratio of -6.05 and a beta of 2.02. Olema Pharmaceuticals has a 12 month low of $8.51 and a 12 month high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, hitting the consensus estimate of ($0.54). Equities analysts anticipate that Olema Pharmaceuticals will post -1.37 EPS 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.