Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Given Consensus Rating of “Buy” by Brokerages

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been given an average recommendation of “Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered 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.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 8,256 shares of Olema Pharmaceuticals stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total value of $77,358.72. Following the transaction, the director now owns 772,277 shares in the company, valued at approximately $7,236,235.49. This trade represents a 1.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average price of $5.76 per share, for a total transaction of $1,728,000.00. Following the purchase, the insider now owns 7,800,000 shares in the company, valued at approximately $44,928,000. The trade was a 4.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 773,797 shares of company stock worth $5,414,609. Company insiders own 19.40% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. boosted its holdings in shares of Olema Pharmaceuticals by 14.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company’s stock valued at $44,027,000 after acquiring an additional 475,447 shares in the last quarter. State Street Corp boosted its holdings in shares of Olema Pharmaceuticals by 1.1% during the 3rd quarter. State Street Corp now owns 1,969,963 shares of the company’s stock valued at $23,521,000 after acquiring an additional 21,986 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Olema Pharmaceuticals by 10.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock valued at $11,972,000 after acquiring an additional 97,428 shares in the last quarter. Great Point Partners LLC boosted its holdings in shares of Olema Pharmaceuticals by 25.5% during the 3rd quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock valued at $11,940,000 after acquiring an additional 203,120 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Olema Pharmaceuticals by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 851,512 shares of the company’s stock valued at $10,167,000 after acquiring an additional 76,720 shares in the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $5.68 on Thursday. Olema Pharmaceuticals has a one year low of $4.60 and a one year high of $16.77. The stock has a market capitalization of $325.45 million, a PE ratio of -2.59 and a beta of 2.05. The company’s 50-day moving average price is $7.27 and its two-hundred day moving average price is $10.70.

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.