Olema Pharmaceuticals (NASDAQ:OLMA) PT Lowered to $31.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its price objective decreased by JPMorgan Chase & Co. from $33.00 to $31.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 161.60% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on OLMA. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $27.00.

Olema Pharmaceuticals Stock Performance

Shares of Olema Pharmaceuticals stock traded down $0.89 on Thursday, reaching $11.85. 697,547 shares of the stock were exchanged, compared to its average volume of 855,284. The firm’s 50 day moving average is $12.96 and its 200-day moving average is $12.17. Olema Pharmaceuticals has a one year low of $8.50 and a one year high of $17.79. The firm has a market cap of $662.82 million, a PE ratio of -5.87 and a beta of 2.06.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.54). On average, equities research analysts expect that Olema Pharmaceuticals will post -2.3 EPS for the current fiscal year.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 15,000 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $9.41, for a total transaction of $141,150.00. Following the completion of the sale, the director now directly owns 791,283 shares in the company, valued at $7,445,973.03. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Cyrus Harmon sold 15,000 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $9.41, for a total transaction of $141,150.00. Following the transaction, the director now directly owns 791,283 shares of the company’s stock, valued at $7,445,973.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the transaction, the insider now directly owns 783,118 shares in the company, valued at $11,676,289.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,449,066 shares of company stock worth $36,319,848. 19.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Olema Pharmaceuticals by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock valued at $24,069,000 after buying an additional 21,420 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Olema Pharmaceuticals by 2.2% in the third quarter. Vanguard Group Inc. now owns 1,710,307 shares of the company’s stock valued at $21,122,000 after buying an additional 36,785 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Olema Pharmaceuticals by 74.5% in the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock valued at $13,817,000 after buying an additional 521,562 shares in the last quarter. Candriam S.C.A. lifted its stake in shares of Olema Pharmaceuticals by 199.9% in the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock valued at $11,454,000 after buying an additional 705,655 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Olema Pharmaceuticals by 26.9% in the second quarter. Victory Capital Management Inc. now owns 774,792 shares of the company’s stock valued at $8,383,000 after buying an additional 164,143 shares in the last quarter. 91.78% of the stock is owned by 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.