Brokerages Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) PT at $22.00

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has received an average rating of “Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $22.00.

OLMA has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on Olema Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “buy” rating and a $24.00 price target on the stock.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 15,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $9.41, for a total value of $141,150.00. Following the transaction, the director now directly owns 791,283 shares in the company, valued at approximately $7,445,973.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 50,000 shares of company stock worth $527,100 in the last ninety days. 19.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several institutional investors have recently modified their holdings of OLMA. Public Employees Retirement System of Ohio bought a new position in shares of Olema Pharmaceuticals during the 3rd quarter valued at about $35,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at about $89,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at about $130,000. Entropy Technologies LP purchased a new stake in Olema Pharmaceuticals during the 1st quarter valued at about $161,000. Finally, EntryPoint Capital LLC grew its position in Olema Pharmaceuticals by 949.9% during the 1st quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock worth $164,000 after acquiring an additional 13,146 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors.

Olema Pharmaceuticals Trading Down 1.6 %

OLMA stock opened at $15.19 on Thursday. Olema Pharmaceuticals has a 1-year low of $7.78 and a 1-year high of $17.79. The stock’s fifty day simple moving average is $12.08 and its two-hundred day simple moving average is $12.01. The stock has a market cap of $849.58 million, a P/E ratio of -7.52 and a beta of 2.06.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). As a group, analysts forecast that Olema Pharmaceuticals will post -2.3 earnings per share for the current fiscal 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.