Olema Pharmaceuticals (NASDAQ:OLMA) Price Target Lowered to $22.00 at Oppenheimer

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target reduced by stock analysts at Oppenheimer from $25.00 to $22.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 369.08% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Monday, April 28th. JPMorgan Chase & Co. reduced their price target on Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, March 28th.

Olema Pharmaceuticals Trading Up 4.2%

Shares of NASDAQ OLMA opened at $4.69 on Wednesday. Olema Pharmaceuticals has a one year low of $2.86 and a one year high of $16.62. The firm has a market capitalization of $320.61 million, a PE ratio of -2.14 and a beta of 2.03. The business has a 50-day moving average price of $4.29 and a two-hundred day moving average price of $6.17.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.13. Research analysts anticipate that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Olema Pharmaceuticals by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 332,950 shares of the company’s stock valued at $1,941,000 after buying an additional 2,189 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Olema Pharmaceuticals by 22.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,892 shares of the company’s stock valued at $56,000 after acquiring an additional 2,743 shares in the last quarter. Boothbay Fund Management LLC raised its stake in shares of Olema Pharmaceuticals by 10.8% in the 4th quarter. Boothbay Fund Management LLC now owns 31,226 shares of the company’s stock valued at $182,000 after acquiring an additional 3,056 shares in the last quarter. Virtus ETF Advisers LLC raised its stake in shares of Olema Pharmaceuticals by 43.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock valued at $62,000 after acquiring an additional 3,185 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Olema Pharmaceuticals by 30.2% in the 4th quarter. ProShare Advisors LLC now owns 14,226 shares of the company’s stock valued at $83,000 after acquiring an additional 3,298 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.