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

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

Several other research analysts have also recently weighed in on the stock. Oppenheimer restated an “outperform” rating and issued a $25.00 price objective (down previously from $30.00) on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $4.11 on Friday. The stock has a market capitalization of $280.85 million, a price-to-earnings ratio of -1.88 and a beta of 2.11. The business’s fifty day moving average price is $4.98 and its two-hundred day moving average price is $8.02. Olema Pharmaceuticals has a fifty-two week low of $3.93 and a fifty-two week 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 analysts’ consensus estimates of ($0.63) by $0.12. Research analysts expect that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was purchased at an average price of $5.76 per share, for a total transaction of $1,728,000.00. Following the acquisition, the insider now owns 7,800,000 shares in the company, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 19.40% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Olema Pharmaceuticals by 52.1% in the fourth quarter. Wellington Management Group LLP now owns 1,525,484 shares of the company’s stock valued at $8,839,000 after acquiring an additional 522,799 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in Olema Pharmaceuticals during the fourth quarter worth approximately $119,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Olema Pharmaceuticals by 23.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,979 shares of the company’s stock valued at $548,000 after buying an additional 18,005 shares during the period. Squarepoint Ops LLC lifted its position in shares of Olema Pharmaceuticals by 205.8% in the fourth quarter. Squarepoint Ops LLC now owns 48,829 shares of the company’s stock valued at $285,000 after buying an additional 32,860 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Olema Pharmaceuticals by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 14,226 shares of the company’s stock worth $83,000 after acquiring an additional 3,298 shares during the period. 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.