HC Wainwright Cuts Olema Pharmaceuticals (NASDAQ:OLMA) Price Target to $38.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its price objective cut by HC Wainwright from $45.00 to $38.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on OLMA. The Goldman Sachs Group upped their target price on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Citigroup lifted their price target on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Piper Sandler began coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, January 7th. They set an “overweight” rating and a $40.00 price target for the company. Oppenheimer restated an “outperform” rating on shares of Olema Pharmaceuticals in a report on Monday. Finally, UBS Group assumed coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, January 7th. They issued a “buy” rating and a $45.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Olema Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Olema Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:OLMA opened at $15.61 on Monday. The business’s 50 day simple moving average is $24.59 and its two-hundred day simple moving average is $18.36. The firm has a market cap of $1.07 billion, a P/E ratio of -8.35 and a beta of 1.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03. Olema Pharmaceuticals has a 52-week low of $2.86 and a 52-week high of $36.26.

Insider Buying and Selling

In related news, insider Shane William Charles Kovacs sold 100,000 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the sale, the insider directly owned 139,727 shares of the company’s stock, valued at approximately $4,014,356.71. This represents a 41.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ian T. Clark sold 264,800 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $29.73, for a total value of $7,872,504.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 805,501 shares of company stock valued at $23,003,832. 16.36% of the stock is currently owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Bain Capital Life Sciences Investors LLC raised its holdings in shares of Olema Pharmaceuticals by 24.3% in the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock valued at $212,716,000 after purchasing an additional 1,664,687 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its position in shares of Olema Pharmaceuticals by 11.0% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,544,172 shares of the company’s stock valued at $188,604,000 after purchasing an additional 750,000 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Olema Pharmaceuticals by 87.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company’s stock worth $167,901,000 after purchasing an additional 3,124,345 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Olema Pharmaceuticals by 11.4% during the fourth quarter. Vanguard Group Inc. now owns 3,561,355 shares of the company’s stock worth $89,034,000 after purchasing an additional 364,035 shares during the last quarter. Finally, Deep Track Capital LP grew its position in Olema Pharmaceuticals by 0.8% in the 3rd quarter. Deep Track Capital LP now owns 3,470,172 shares of the company’s stock worth $33,973,000 after purchasing an additional 27,339 shares in the last quarter. Institutional investors 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 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.