Olema Pharmaceuticals (NASDAQ:OLMA) Price Target Lowered to $31.00 at JPMorgan Chase & Co.

Olema Pharmaceuticals (NASDAQ:OLMA) had its target price reduced by JPMorgan Chase & Co. from $33.00 to $31.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

OLMA has been the topic of a number of other reports. Oppenheimer reaffirmed an outperform rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday. HC Wainwright reaffirmed a buy rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $25.50.

Olema Pharmaceuticals Price Performance

OLMA stock traded down $0.89 during midday trading on Thursday, hitting $11.85. The company’s stock had a trading volume of 697,547 shares, compared to its average volume of 855,284. Olema Pharmaceuticals has a twelve month low of $8.50 and a twelve month high of $17.79. The company’s fifty day moving average price is $12.91 and its 200 day moving average price is $12.17. The stock has a market capitalization of $662.82 million, a P/E ratio of -5.96 and a beta of 2.06.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.54). Equities analysts expect that Olema Pharmaceuticals will post -2.3 EPS for the current fiscal year.

Insider Transactions at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 15,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $9.41, for a total value of $141,150.00. Following the completion of the sale, the director now directly owns 791,283 shares in the company, valued at approximately $7,445,973.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Cyrus Harmon sold 15,000 shares of the business’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 completion of the transaction, the director now owns 791,283 shares of the company’s stock, valued at $7,445,973.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the sale, the insider now owns 783,118 shares in the company, valued at $11,676,289.38. The disclosure for this sale can be found here. In the last three months, insiders sold 2,449,066 shares of company stock worth $36,319,848. 19.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in Olema Pharmaceuticals by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock valued at $24,069,000 after buying an additional 21,420 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Olema Pharmaceuticals by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,710,307 shares of the company’s stock worth $21,122,000 after acquiring an additional 36,785 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Olema Pharmaceuticals by 74.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after purchasing an additional 521,562 shares during the period. Candriam S.C.A. raised its stake in shares of Olema Pharmaceuticals by 199.9% during the 2nd 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. Finally, Victory Capital Management Inc. raised its stake in shares of Olema Pharmaceuticals by 26.9% during the 2nd quarter. Victory Capital Management Inc. now owns 774,792 shares of the company’s stock worth $8,383,000 after purchasing an additional 164,143 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.