Olema Pharmaceuticals (NASDAQ:OLMA) Given New $21.00 Price Target at Citigroup

Olema Pharmaceuticals (NASDAQ:OLMA) had its target price boosted by Citigroup from $20.00 to $21.00 in a report published on Tuesday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also weighed in on OLMA. The Goldman Sachs Group dropped their price objective on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Monday, April 28th. Finally, Oppenheimer lowered their price target on shares of Olema Pharmaceuticals from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $23.80.

Olema Pharmaceuticals Price Performance

Shares of OLMA opened at $5.31 on Tuesday. The firm has a market capitalization of $363.31 million, a PE ratio of -2.68 and a beta of 1.92. The company’s 50-day moving average is $4.58 and its 200-day moving average is $4.64. Olema Pharmaceuticals has a fifty-two week low of $2.86 and a fifty-two week high of $13.93.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.08). Analysts predict that Olema Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its stake in shares of Olema Pharmaceuticals by 55.4% in the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after buying an additional 2,168 shares during the period. ProShare Advisors LLC raised its position in Olema Pharmaceuticals by 21.1% during the second quarter. ProShare Advisors LLC now owns 14,766 shares of the company’s stock valued at $63,000 after purchasing an additional 2,569 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Olema Pharmaceuticals by 22.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 14,892 shares of the company’s stock worth $56,000 after purchasing an additional 2,743 shares during the last quarter. Boothbay Fund Management LLC lifted its stake in Olema Pharmaceuticals by 10.8% during the fourth quarter. Boothbay Fund Management LLC now owns 31,226 shares of the company’s stock worth $182,000 after purchasing an additional 3,056 shares during the last quarter. Finally, Virtus ETF Advisers LLC lifted its stake in Olema Pharmaceuticals by 43.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock worth $62,000 after purchasing an additional 3,185 shares during the last quarter. 91.78% of the stock is currently 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.