JPMorgan Chase & Co. Lowers Olema Pharmaceuticals (NASDAQ:OLMA) Price Target to $28.00

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target decreased by research analysts at JPMorgan Chase & Co. from $30.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock.

A number of other brokerages also recently issued reports on OLMA. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. Oppenheimer restated an “outperform” rating and set a $25.00 price target (down previously from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th.

Olema Pharmaceuticals Stock Down 2.1 %

Olema Pharmaceuticals stock opened at $4.11 on Friday. The firm has a market cap of $280.85 million, a P/E ratio of -1.88 and a beta of 2.11. The business has a fifty day moving average of $4.98 and a two-hundred day moving average of $8.05. Olema Pharmaceuticals has a twelve month low of $3.93 and a twelve month high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.12. Equities analysts expect that Olema Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Transactions at Olema Pharmaceuticals

In related news, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were bought at an average cost of $5.76 per share, with a total value of $1,728,000.00. Following the transaction, the insider now owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.40% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

A number of hedge funds have recently modified their holdings of OLMA. KLP Kapitalforvaltning AS purchased a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $30,000. Conway Capital Management Inc. acquired a new stake in Olema Pharmaceuticals in the third quarter valued at approximately $119,000. Hsbc Holdings PLC acquired a new stake in Olema Pharmaceuticals in the fourth quarter valued at approximately $58,000. Teacher Retirement System of Texas purchased a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $60,000. Finally, Virtus ETF Advisers LLC raised its stake in shares of Olema Pharmaceuticals by 43.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock worth $62,000 after buying an additional 3,185 shares during the period. Hedge funds and other institutional investors 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.