HC Wainwright Increases Olema Pharmaceuticals (NASDAQ:OLMA) Price Target to $45.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its target price hoisted by investment analysts at HC Wainwright from $36.00 to $45.00 in a report released on Thursday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 36.16% from the stock’s previous close.

Several other analysts have also issued reports on OLMA. JPMorgan Chase & Co. upped their price target on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. The Goldman Sachs Group boosted their price objective on shares of Olema Pharmaceuticals from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Guggenheim started coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. They issued a “buy” rating and a $20.00 target price for the company. UBS Group reissued a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.50.

Olema Pharmaceuticals Stock Performance

OLMA opened at $33.05 on Thursday. The business’s 50-day simple moving average is $15.73 and its 200 day simple moving average is $9.20. Olema Pharmaceuticals has a 52-week low of $2.86 and a 52-week high of $33.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03. The firm has a market capitalization of $2.27 billion, a PE ratio of -17.67 and a beta of 1.87.

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 the consensus estimate of ($0.44) by ($0.05). As a group, sell-side analysts expect that Olema Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 10,000 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $8.33, for a total value of $83,300.00. Following the transaction, the director directly owned 744,140 shares of the company’s stock, valued at $6,198,686.20. This represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 25,000 shares of company stock valued at $204,841. 16.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its stake in shares of Olema Pharmaceuticals by 55.4% during the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after purchasing an additional 2,168 shares during the period. Farther Finance Advisors LLC grew its holdings in Olema Pharmaceuticals by 602.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after buying an additional 5,866 shares in the last quarter. FNY Investment Advisers LLC increased its position in Olema Pharmaceuticals by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $42,000 after buying an additional 5,000 shares during the period. Quarry LP acquired a new stake in shares of Olema Pharmaceuticals during the first quarter worth $45,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Olema Pharmaceuticals during the first quarter worth $52,000. Institutional investors and hedge funds 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.