Olema Pharmaceuticals (NASDAQ:OLMA) Price Target Raised to $60.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its price objective raised by Citigroup from $21.00 to $60.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

OLMA has been the topic of several other reports. Oppenheimer upped their price target on Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 18th. HC Wainwright upped their price target on shares of Olema Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group reiterated a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Finally, The Goldman Sachs Group raised their price objective on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Olema Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $33.05 on Friday. The firm has a 50-day moving average of $15.73 and a two-hundred day moving average of $9.26. 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 stock has a market cap of $2.27 billion, a P/E ratio of -17.67 and a beta of 1.85. Olema Pharmaceuticals has a 1-year low of $2.86 and a 1-year high of $33.50.

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

Insider Transactions at Olema Pharmaceuticals

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

Institutional Inflows and Outflows

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