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

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have covered the stock in the last year is $27.00.

Separately, HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, December 11th.

Insider Buying and Selling

In related news, insider David C. Myles sold 12,452 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.38, for a total transaction of $116,799.76. Following the transaction, the insider now owns 611,947 shares in the company, valued at $5,740,062.86. The trade was a 1.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was acquired at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the acquisition, the insider now owns 7,800,000 shares in the company, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 773,797 shares of company stock worth $5,414,609 in the last ninety days. 19.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC boosted its holdings in Olema Pharmaceuticals by 33.8% in the fourth quarter. SG Americas Securities LLC now owns 17,475 shares of the company’s stock valued at $102,000 after acquiring an additional 4,419 shares in the last quarter. Conway Capital Management Inc. purchased a new stake in shares of Olema Pharmaceuticals in the 3rd quarter worth about $119,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Olema Pharmaceuticals by 67.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock valued at $132,000 after purchasing an additional 4,442 shares in the last quarter. Portland Investment Counsel Inc. bought a new stake in shares of Olema Pharmaceuticals during the 3rd quarter valued at about $143,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Olema Pharmaceuticals during the second quarter valued at about $145,000. 91.78% of the stock is owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Trading Up 7.2 %

Shares of Olema Pharmaceuticals stock opened at $5.66 on Thursday. The firm has a market capitalization of $324.32 million, a PE ratio of -2.58 and a beta of 2.05. Olema Pharmaceuticals has a 12 month low of $4.60 and a 12 month high of $16.77. The business’s 50-day moving average price is $7.65 and its 200-day moving average price is $10.81.

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.