Olema Pharmaceuticals (NASDAQ:OLMA) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Olema Pharmaceuticals (NASDAQ:OLMAGet Free Report) in a note issued to investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $24.00 price target on the stock. The Goldman Sachs Group’s price target points to a potential upside of 120.39% from the stock’s current price.

Several other brokerages have also recently weighed in on OLMA. Citigroup assumed coverage on shares of Olema Pharmaceuticals in a research note on Tuesday, January 30th. They issued a “buy” rating and a $20.00 price objective for the company. Capital One Financial restated an “overweight” rating on shares of Olema Pharmaceuticals in a research report on Thursday, February 22nd. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Olema Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $21.43.

View Our Latest Stock Report on Olema Pharmaceuticals

Olema Pharmaceuticals Stock Down 3.8 %

Shares of Olema Pharmaceuticals stock opened at $10.89 on Tuesday. Olema Pharmaceuticals has a twelve month low of $3.00 and a twelve month high of $17.79. The company has a 50-day simple moving average of $13.16 and a two-hundred day simple moving average of $13.12. The stock has a market capitalization of $608.97 million, a price-to-earnings ratio of -5.04 and a beta of 2.10.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $10.97, for a total transaction of $219,400.00. Following the sale, the director now directly owns 826,283 shares of the company’s stock, valued at approximately $9,064,324.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 70,000 shares of company stock valued at $835,400 in the last ninety days. 23.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted 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 bought a new stake in shares of Olema Pharmaceuticals in the 4th quarter worth $28,000. Balyasny Asset Management LLC bought a new stake in shares of Olema Pharmaceuticals in the 3rd quarter worth $33,000. Virtu Financial LLC bought a new stake in shares of Olema Pharmaceuticals in the 4th quarter worth $33,000. Finally, Citigroup Inc. bought a new stake in shares of Olema Pharmaceuticals in the 1st quarter worth $34,000. 91.78% of the stock is owned by institutional investors.

Olema Pharmaceuticals Company Profile

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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.

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