Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Receives $20.25 Consensus PT from Analysts

Posted by Defense World Staff on Aug 13th, 2023

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Get Free Report) has earned a consensus rating of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $19.40.

Several analysts recently issued reports on the stock. Lifesci Capital reaffirmed an “outperform” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, April 26th. JPMorgan Chase & Co. upped their price objective on shares of Olema Pharmaceuticals from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday. Credit Suisse Group upped their price objective on shares of Olema Pharmaceuticals from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday. Capital One Financial increased their price target on shares of Olema Pharmaceuticals from $16.00 to $20.00 in a research note on Friday, May 12th. Finally, HC Wainwright increased their price target on shares of Olema Pharmaceuticals from $17.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday.

Read Our Latest Stock Analysis on OLMA

Olema Pharmaceuticals Trading Up 3.6 %

Shares of NASDAQ OLMA opened at $10.48 on Thursday. Olema Pharmaceuticals has a 12-month low of $2.19 and a 12-month high of $11.15. The stock has a market cap of $433.35 million, a PE ratio of -4.35 and a beta of 2.76. The company has a 50-day moving average of $8.67 and a 200 day moving average of $6.03.

Insider Activity

In other news, Director Cyrus Harmon sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $6.30, for a total value of $63,000.00. Following the completion of the sale, the director now owns 1,038,714 shares of the company’s stock, valued at approximately $6,543,898.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in Olema Pharmaceuticals during the 4th quarter worth approximately $28,000. Virtu Financial LLC acquired a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at $33,000. Balyasny Asset Management LLC acquired a new stake in shares of Olema Pharmaceuticals in the 3rd quarter valued at $33,000. Citigroup Inc. acquired a new stake in shares of Olema Pharmaceuticals in the 1st quarter valued at $34,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of Olema Pharmaceuticals in the 1st quarter valued at $61,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

About Olema Pharmaceuticals

(Get Free Report

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 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; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1b/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer.