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

Key Points

• Citigroup has raised its target price for Olema Pharmaceuticals (NASDAQ:OLMA) from $20.00 to $21.00, indicating a potential upside of 359.52% from the current stock price.
• A majority of analysts maintain a buy rating for Olema Pharmaceuticals, with a consensus price target of $23.80.
• Olema Pharmaceuticals has recently seen increased institutional interest, with 91.78% of its stock owned by institutional investors, highlighting confidence in the company's potential.

Olema Pharmaceuticals (NASDAQ:OLMA - Free Report) had its price objective upped by Citigroup from $20.00 to $21.00 in a report released on Tuesday, MarketBeat.com reports. The firm currently has a buy rating on the stock.

Several other research firms also recently commented on OLMA. Oppenheimer dropped their price objective on Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. The Goldman Sachs Group dropped their price objective on Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Monday, April 28th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $24.00.

Olema Pharmaceuticals Stock Performance

Olema Pharmaceuticals stock traded down $0.01 during trading on Tuesday, hitting $5.26. The stock had a trading volume of 415,851 shares, compared to its average volume of 526,778. Olema Pharmaceuticals has a 1 year low of $2.86 and a 1 year high of $13.93. The company has a quick ratio of 15.22, a current ratio of 11.09 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average is $4.62 and its two-hundred day moving average is $4.64. The stock has a market cap of $360.99 million, a price-to-earnings ratio of -2.66 and a beta of 1.92.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.08). As a group, analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current year.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its holdings 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 worth $26,000 after purchasing an additional 2,168 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Olema Pharmaceuticals by 602.9% in the second quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company's stock worth $29,000 after purchasing an additional 5,866 shares during the period. FNY Investment Advisers LLC increased its holdings in shares of Olema Pharmaceuticals by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock worth $42,000 after purchasing an additional 5,000 shares during the period. Hsbc Holdings PLC bought a new position in shares of Olema Pharmaceuticals in the fourth quarter worth $58,000. Finally, Virtus ETF Advisers LLC increased its holdings in shares of Olema Pharmaceuticals by 43.1% in 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 period. Institutional investors own 91.78% of the company's stock.

Olema Pharmaceuticals Company Profile

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.