Olema Pharmaceuticals (NASDAQ:OLMA) Price Target Cut to $28.00 by Analysts at JPMorgan Chase & Co.

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target cut by JPMorgan Chase & Co. from $30.00 to $28.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

OLMA has been the subject of several other reports. Oppenheimer reissued an “outperform” rating and set a $25.00 price objective (down from $30.00) on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th.

Olema Pharmaceuticals Trading Down 2.1 %

Shares of OLMA opened at $4.11 on Friday. The company has a market cap of $280.85 million, a price-to-earnings ratio of -1.88 and a beta of 2.11. The business’s fifty day simple moving average is $4.98 and its two-hundred day simple moving average is $8.08. Olema Pharmaceuticals has a 12 month low of $3.93 and a 12 month high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.12. As a group, research analysts forecast that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Insider Transactions at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of Olema Pharmaceuticals stock in a transaction on Wednesday, January 8th. The stock was acquired at an average cost of $5.76 per share, with a total value of $1,728,000.00. Following the completion of the acquisition, the insider now owns 7,800,000 shares in the company, valued at approximately $44,928,000. This represents a 4.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OLMA. Bain Capital Life Sciences Investors LLC bought a new position in Olema Pharmaceuticals in the 4th quarter worth $43,551,000. Paradigm Biocapital Advisors LP increased its position in Olema Pharmaceuticals by 32.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company’s stock worth $42,588,000 after buying an additional 1,801,370 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Olema Pharmaceuticals by 14.8% in the third quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company’s stock worth $44,027,000 after buying an additional 475,447 shares during the period. MPM Bioimpact LLC lifted its position in shares of Olema Pharmaceuticals by 8.7% during the 4th quarter. MPM Bioimpact LLC now owns 2,912,550 shares of the company’s stock valued at $16,980,000 after buying an additional 231,954 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Olema Pharmaceuticals by 6.0% during the 4th quarter. Vanguard Group Inc. now owns 2,685,009 shares of the company’s stock valued at $15,654,000 after buying an additional 152,117 shares in the last quarter. 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.