Brokerages Set Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Price Target at $21.00

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been assigned an average recommendation of “Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $21.00.

A number of equities research analysts have recently commented on the stock. Capital One Financial reaffirmed an “overweight” rating on shares of Olema Pharmaceuticals in a report on Thursday, February 22nd. Citigroup started coverage on Olema Pharmaceuticals in a research report on Tuesday, January 30th. They set a “buy” rating and a $20.00 price objective for the company.

Olema Pharmaceuticals Price Performance

OLMA stock opened at $11.32 on Friday. The company has a market cap of $633.01 million, a price-to-earnings ratio of -5.24 and a beta of 2.13. The company has a fifty day moving average price of $13.17 and a 200 day moving average price of $13.12. Olema Pharmaceuticals has a 12 month low of $3.00 and a 12 month high of $17.79.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $12.23, for a total transaction of $305,750.00. Following the sale, the director now owns 876,283 shares of the company’s stock, valued at approximately $10,716,941.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in 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 in the last quarter. Jane Street Group LLC purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter worth approximately $28,000. Balyasny Asset Management LLC acquired a new position in shares of Olema Pharmaceuticals during the 3rd quarter worth approximately $33,000. Virtu Financial LLC purchased a new stake in Olema Pharmaceuticals in the 4th quarter valued at approximately $33,000. Finally, Citigroup Inc. acquired a new stake in Olema Pharmaceuticals during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 91.78% 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.