Olema Pharmaceuticals (NASDAQ:OLMA) Price Target Raised to $32.00 at JPMorgan Chase & Co.

Olema Pharmaceuticals (NASDAQ:OLMA) had its target price increased by analysts at JPMorgan Chase & Co. from $29.00 to $32.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 54.80% from the stock’s current price.

A number of other equities research analysts have also recently commented on OLMA. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Guggenheim started coverage on Olema Pharmaceuticals in a research note on Wednesday, October 8th. They issued a “buy” rating and a $20.00 price target for the company. Zacks Research raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Oppenheimer reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Olema Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

Olema Pharmaceuticals Trading Up 142.6%

Shares of OLMA traded up $12.15 during trading hours on Tuesday, hitting $20.67. 59,060,913 shares of the stock traded hands, compared to its average volume of 1,214,930. The business has a fifty day moving average of $8.93 and a 200-day moving average of $6.34. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.42 billion, a PE ratio of -11.10 and a beta of 2.07. Olema Pharmaceuticals has a 1-year low of $2.86 and a 1-year high of $27.17.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05). Analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 3,086 shares of the company’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $8.32, for a total transaction of $25,675.52. Following the completion of the transaction, the director directly owned 117,028 shares of the company’s stock, valued at $973,672.96. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 25,000 shares of company stock valued at $204,841 in the last 90 days. Insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Large investors have recently bought and sold shares of the company. Kingdon Capital Management L.L.C. acquired a new stake in shares of Olema Pharmaceuticals in the third quarter valued at approximately $8,361,000. Ameriprise Financial Inc. lifted its position in Olema Pharmaceuticals by 193.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company’s stock worth $4,996,000 after buying an additional 773,064 shares in the last quarter. Candriam S.C.A. boosted its stake in shares of Olema Pharmaceuticals by 46.9% during the 3rd quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock worth $12,235,000 after buying an additional 399,273 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Olema Pharmaceuticals by 93.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after acquiring an additional 358,412 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Olema Pharmaceuticals in the first quarter valued at about $1,295,000. 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.