Oppenheimer Lowers Olema Pharmaceuticals (NASDAQ:OLMA) Price Target to $22.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its target price lowered by equities research analysts at Oppenheimer from $25.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 369.08% from the company’s previous close.

OLMA has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Monday, April 28th. JPMorgan Chase & Co. lowered their target price on Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, March 28th.

Olema Pharmaceuticals Stock Performance

Shares of OLMA opened at $4.69 on Wednesday. The firm has a market capitalization of $320.61 million, a price-to-earnings ratio of -2.14 and a beta of 2.03. Olema Pharmaceuticals has a one year low of $2.86 and a one year high of $16.62. The stock’s fifty day moving average is $4.29 and its 200-day moving average is $6.17.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.13. Analysts forecast that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bain Capital Life Sciences Investors LLC acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at $43,551,000. Paradigm Biocapital Advisors LP boosted its position in shares of Olema Pharmaceuticals by 32.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company’s stock valued at $42,588,000 after purchasing an additional 1,801,370 shares during the period. MPM Bioimpact LLC boosted its position in shares of Olema Pharmaceuticals by 0.6% in the 1st quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company’s stock valued at $11,018,000 after purchasing an additional 17,896 shares during the period. Vanguard Group Inc. boosted its position in shares of Olema Pharmaceuticals by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 2,685,009 shares of the company’s stock valued at $15,654,000 after purchasing an additional 152,117 shares during the period. Finally, Lightspeed Management Company L.L.C. acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at $11,257,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

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.