Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Olema Pharmaceuticals (NASDAQ:OLMA) had its price objective upped by analysts at The Goldman Sachs Group from $26.00 to $38.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 14.98% from the company’s current price.

Several other analysts have also recently issued reports on OLMA. Guggenheim initiated coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. They set a “buy” rating and a $20.00 price objective for the company. Zacks Research raised Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Oppenheimer upped their price target on Olema Pharmaceuticals from $22.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. JPMorgan Chase & Co. raised their price objective on Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Finally, HC Wainwright lifted their price objective on Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday. 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 company. According to MarketBeat, Olema Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $40.50.

Olema Pharmaceuticals Trading Up 4.7%

NASDAQ OLMA opened at $33.05 on Thursday. Olema Pharmaceuticals has a 12 month low of $2.86 and a 12 month high of $33.50. The company has a 50-day moving average of $15.73 and a 200-day moving average of $9.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. The company has a market cap of $2.27 billion, a P/E ratio of -17.67 and a beta of 1.87.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its earnings results on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05). As a group, equities analysts predict that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Transactions at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 3,086 shares of Olema Pharmaceuticals stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $8.32, for a total transaction of $25,675.52. Following the sale, the director owned 117,028 shares in the company, valued at $973,672.96. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 25,000 shares of company stock valued at $204,841 over the last three months. 16.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Paradigm Biocapital Advisors LP increased its stake in Olema Pharmaceuticals by 0.4% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,794,172 shares of the company’s stock worth $66,515,000 after buying an additional 30,000 shares during the period. Deep Track Capital LP grew its stake in shares of Olema Pharmaceuticals by 0.8% during the third quarter. Deep Track Capital LP now owns 3,470,172 shares of the company’s stock valued at $33,973,000 after acquiring an additional 27,339 shares in the last quarter. MPM Bioimpact LLC grew its stake in shares of Olema Pharmaceuticals by 0.6% during the first quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company’s stock valued at $11,018,000 after acquiring an additional 17,896 shares in the last quarter. Woodline Partners LP increased its position in shares of Olema Pharmaceuticals by 8.9% during the first quarter. Woodline Partners LP now owns 1,477,907 shares of the company’s stock worth $5,557,000 after acquiring an additional 120,428 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Olema Pharmaceuticals by 22.4% in the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock worth $5,650,000 after acquiring an additional 242,997 shares in the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

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.