Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Expected to Rise, Oppenheimer Analyst Says

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target lifted by analysts at Oppenheimer from $22.00 to $45.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 128.10% from the company’s current price.

Several other equities analysts have also recently weighed in on OLMA. Guggenheim began coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. Citigroup boosted their price target on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. UBS Group restated a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Finally, Zacks Research raised Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.67.

Olema Pharmaceuticals Stock Up 131.5%

OLMA traded up $11.21 during midday trading on Tuesday, hitting $19.73. The company had a trading volume of 63,864,690 shares, compared to its average volume of 1,246,281. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -10.62 and a beta of 2.07. The stock’s 50 day moving average price is $8.93 and its 200 day moving average price is $6.34. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals has a 52 week low of $2.86 and a 52 week high of $27.17.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). On average, research analysts anticipate that Olema Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Insider Activity

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 3,086 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $8.32, for a total value of $25,675.52. Following the sale, the director directly owned 117,028 shares in the company, valued at $973,672.96. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OLMA. Susquehanna International Group LLP increased its holdings in Olema Pharmaceuticals by 20.6% in the 3rd quarter. Susquehanna International Group LLP now owns 112,277 shares of the company’s stock worth $1,099,000 after acquiring an additional 19,182 shares during the last quarter. Quarry LP bought a new position in Olema Pharmaceuticals during the third quarter worth about $184,000. Paradigm Biocapital Advisors LP boosted its position in Olema Pharmaceuticals by 0.4% during the third quarter. Paradigm Biocapital Advisors LP now owns 6,794,172 shares of the company’s stock worth $66,515,000 after purchasing an additional 30,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Olema Pharmaceuticals in the third quarter worth about $268,000. Finally, Kingdon Capital Management L.L.C. bought a new stake in shares of Olema Pharmaceuticals in the third quarter valued at approximately $8,361,000. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Company Profile

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.