Olema Pharmaceuticals (NASDAQ:OLMA) Price Target Raised to $19.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $16.00 to $19.00 in a research note issued on Friday, FlyOnTheWall reports. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 56.38% from the company’s previous close.

OLMA has been the topic of a number of other research reports. Credit Suisse Group upped their price target on shares of Olema Pharmaceuticals from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. HC Wainwright raised their target price on Olema Pharmaceuticals from $22.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $21.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, September 6th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $21.20.

Olema Pharmaceuticals Trading Up 0.7 %

Shares of OLMA opened at $12.15 on Friday. The firm has a market cap of $502.40 million, a PE ratio of -5.04 and a beta of 2.68. Olema Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $13.33. The stock has a fifty day moving average price of $9.75 and a 200-day moving average price of $7.00.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.24. As a group, research analysts forecast that Olema Pharmaceuticals will post -2.18 EPS for the current year.

Insiders Place Their Bets

In related news, Director Bvf Partners L. P/Il acquired 1,505,932 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was acquired at an average price of $9.84 per share, with a total value of $14,818,370.88. Following the acquisition, the director now directly owns 4,688,954 shares in the company, valued at approximately $46,139,307.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Bvf Partners L. P/Il purchased 1,505,932 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, September 12th. The stock was bought at an average cost of $9.84 per share, for a total transaction of $14,818,370.88. Following the completion of the transaction, the director now owns 4,688,954 shares in the company, valued at $46,139,307.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cyrus Harmon sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $11.62, for a total value of $116,200.00. Following the completion of the sale, the director now owns 998,714 shares in the company, valued at approximately $11,605,056.68. The disclosure for this sale can be found here. 23.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Olema Pharmaceuticals by 682.4% during the 2nd quarter. Royal Bank of Canada now owns 2,801 shares of the company’s stock valued at $25,000 after acquiring an additional 2,443 shares during the period. Jane Street Group LLC purchased a new position in Olema Pharmaceuticals during the fourth quarter worth approximately $28,000. Balyasny Asset Management LLC acquired a new stake in Olema Pharmaceuticals in the third quarter valued at approximately $33,000. Virtu Financial LLC purchased a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $33,000. Finally, Citigroup Inc. acquired a new position in shares of Olema Pharmaceuticals during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 88.00% 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 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; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1b/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer.