Olema Pharmaceuticals (NASDAQ:OLMA) Price Target Cut to $38.00 by Analysts at Guggenheim

Olema Pharmaceuticals (NASDAQ:OLMA) had its price objective lowered by analysts at Guggenheim from $40.00 to $38.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 139.97% from the company’s current price.

A number of other equities analysts also recently issued reports on OLMA. Piper Sandler started coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They set an “overweight” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. increased their target price on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. Stifel Nicolaus started coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, February 11th. They set a “buy” rating and a $48.00 target price on the stock. UBS Group began coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, January 7th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Citigroup increased their price objective on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Olema Pharmaceuticals Stock Performance

Olema Pharmaceuticals stock opened at $15.84 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03. The company has a market capitalization of $1.09 billion, a PE ratio of -8.70 and a beta of 1.93. The company has a 50 day moving average price of $24.01 and a 200-day moving average price of $18.66. Olema Pharmaceuticals has a fifty-two week low of $2.86 and a fifty-two week high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings data on Monday, March 16th. The company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.01. As a group, equities analysts forecast that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Ian T. Clark sold 264,800 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $29.73, for a total value of $7,872,504.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Shawnte Mitchell sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total transaction of $606,250.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 805,501 shares of company stock valued at $23,003,832 in the last three months. 16.36% of the stock is currently owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in OLMA. Nisa Investment Advisors LLC lifted its position in shares of Olema Pharmaceuticals by 14.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock valued at $94,000 after buying an additional 477 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Olema Pharmaceuticals by 8.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,018 shares of the company’s stock worth $325,000 after acquiring an additional 987 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Olema Pharmaceuticals by 44.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock valued at $96,000 after purchasing an additional 1,169 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Olema Pharmaceuticals by 9,476.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock worth $31,000 after purchasing an additional 1,232 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Olema Pharmaceuticals by 13.8% during the 4th quarter. ProShare Advisors LLC now owns 14,367 shares of the company’s stock worth $359,000 after purchasing an additional 1,740 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

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.