Analysts Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Price Target at $27.00

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have earned an average recommendation of “Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $27.00.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, December 11th.

Olema Pharmaceuticals Stock Performance

Shares of OLMA opened at $6.32 on Friday. Olema Pharmaceuticals has a fifty-two week low of $5.56 and a fifty-two week high of $16.77. The firm’s 50-day simple moving average is $9.71 and its two-hundred day simple moving average is $11.52. The stock has a market cap of $362.12 million, a PE ratio of -2.89 and a beta of 1.92.

Insider Activity

In other news, Director G. Walmsley Graham sold 700,761 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $6.75, for a total transaction of $4,730,136.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sean Bohen sold 52,328 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total transaction of $490,313.36. Following the completion of the sale, the chief executive officer now owns 298,836 shares of the company’s stock, valued at $2,800,093.32. This represents a 14.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 773,797 shares of company stock worth $5,414,609 over the last 90 days. 19.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Conway Capital Management Inc. purchased a new position in Olema Pharmaceuticals in the third quarter worth about $119,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Olema Pharmaceuticals by 67.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock worth $132,000 after buying an additional 4,442 shares during the last quarter. Portland Investment Counsel Inc. bought a new stake in Olema Pharmaceuticals during the third quarter valued at approximately $143,000. SG Americas Securities LLC purchased a new stake in Olema Pharmaceuticals during the third quarter valued at approximately $156,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Olema Pharmaceuticals during the second quarter valued at approximately $145,000. Institutional investors 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.