Citigroup Forecasts Strong Price Appreciation for Olema Pharmaceuticals (NASDAQ:OLMA) Stock

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target raised by equities research analysts at Citigroup from $60.00 to $62.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 309.46% from the company’s previous close.

Several other analysts also recently weighed in on OLMA. Oppenheimer reaffirmed an “outperform” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Guggenheim dropped their price objective on Olema Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday. TD Cowen reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Piper Sandler started coverage on Olema Pharmaceuticals in a report on Wednesday, January 7th. They issued an “overweight” rating and a $40.00 target price for the company. Finally, HC Wainwright dropped their price target on Olema Pharmaceuticals from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Olema Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $43.22.

Olema Pharmaceuticals Trading Down 8.8%

Shares of NASDAQ OLMA traded down $1.46 during mid-day trading on Tuesday, reaching $15.14. The company had a trading volume of 613,841 shares, compared to its average volume of 1,615,327. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -8.14 and a beta of 1.93. Olema Pharmaceuticals has a 52 week low of $2.86 and a 52 week high of $36.26. The business’s 50-day moving average is $24.01 and its 200-day moving average is $18.66. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Monday, March 16th. The company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.01. Equities analysts expect that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Shane William Charles Kovacs sold 100,000 shares of the company’s 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 transaction, the insider owned 139,727 shares of the company’s stock, valued at $4,014,356.71. This represents a 41.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ian T. Clark sold 264,800 shares of the stock in a transaction 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 SEC filing for this sale provides additional information. Insiders sold a total of 805,501 shares of company stock valued at $23,003,832 in the last ninety days. Company insiders own 16.36% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Titleist Asset Management LLC acquired a new position in shares of Olema Pharmaceuticals in the 2nd quarter worth approximately $64,000. Diadema Partners LP raised its position in Olema Pharmaceuticals by 153.7% in the second quarter. Diadema Partners LP now owns 253,657 shares of the company’s stock valued at $1,081,000 after purchasing an additional 153,657 shares during the period. Candriam S.C.A. raised its position in Olema Pharmaceuticals by 46.9% in the third quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock valued at $12,235,000 after purchasing an additional 399,273 shares during the period. Birchview Capital LP acquired a new position in Olema Pharmaceuticals during the second quarter worth $571,000. Finally, Schroder Investment Management Group lifted its stake in Olema Pharmaceuticals by 16.0% during the second quarter. Schroder Investment Management Group now owns 618,184 shares of the company’s stock worth $2,633,000 after purchasing an additional 85,073 shares in the last quarter. Institutional investors and hedge funds 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.