JPMorgan Chase & Co. Increases Olema Pharmaceuticals (NASDAQ:OLMA) Price Target to $19.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its target price raised by JPMorgan Chase & Co. from $16.00 to $19.00 in a research report released on Friday morning, Marketbeat.com reports. They currently have an overweight rating on the stock.

OLMA has been the topic of several other reports. Credit Suisse Group upped their price target on shares of Olema Pharmaceuticals from $16.00 to $18.00 and gave the company an outperform rating in a report on Wednesday, August 9th. Oppenheimer reaffirmed an outperform rating and issued a $21.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, September 6th. Finally, HC Wainwright upped their price target on shares of Olema Pharmaceuticals from $22.00 to $28.00 and gave the company a buy rating in a report on Tuesday, September 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Olema Pharmaceuticals has a consensus rating of Buy and a consensus target price of $21.20.

Olema Pharmaceuticals Price Performance

Shares of OLMA opened at $12.57 on Friday. The firm has a market capitalization of $519.77 million, a PE ratio of -5.22 and a beta of 2.68. Olema Pharmaceuticals has a 1-year low of $2.19 and a 1-year high of $13.50. The company’s fifty day moving average price is $9.91 and its 200-day moving average price is $7.16.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.24. As a group, research analysts anticipate that Olema Pharmaceuticals will post -2.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $11.62, for a total value of $116,200.00. Following the completion of the transaction, the director now owns 998,714 shares in the company, valued at $11,605,056.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Cyrus Harmon sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $11.62, for a total transaction of $116,200.00. Following the completion of the transaction, the director now owns 998,714 shares in the company, valued at approximately $11,605,056.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bvf Partners L. P/Il purchased 1,505,932 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average price of $9.84 per share, with a total value of $14,818,370.88. Following the transaction, the director now owns 4,688,954 shares in the company, valued at $46,139,307.36. The disclosure for this purchase can be found here. Insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OLMA. JPMorgan Chase & Co. raised its position in shares of Olema Pharmaceuticals by 20.6% during the 1st quarter. JPMorgan Chase & Co. now owns 28,800 shares of the company’s stock worth $122,000 after purchasing an additional 4,928 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Olema Pharmaceuticals by 14.4% in the 1st quarter. Acadian Asset Management LLC now owns 115,076 shares of the company’s stock valued at $489,000 after acquiring an additional 14,454 shares during the last quarter. BlackRock Inc. raised its holdings in Olema Pharmaceuticals by 11.1% in the 1st quarter. BlackRock Inc. now owns 2,552,949 shares of the company’s stock valued at $10,874,000 after acquiring an additional 254,785 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Olema Pharmaceuticals in the 1st quarter valued at about $1,054,000. Finally, Prelude Capital Management LLC acquired a new stake in Olema Pharmaceuticals in the 1st quarter valued at about $61,000. Institutional investors and hedge funds own 88.00% 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.