Analyst Emily Bodnar from H.C. Wainwright maintained a Buy rating on Olema Pharmaceuticals (OLMA – Research Report) and keeping the price target at $30.00.
Emily Bodnar’s rating is based on the promising clinical data and potential market opportunities for Olema Pharmaceuticals. The company’s recent updates on the Phase 2 study of the palazestrant and ribociclib combination in ER+/HER2- metastatic breast cancer patients show a median progression-free survival (PFS) of over 13 months, which is potentially best-in-class compared to similar studies. This suggests a differentiated efficacy profile that could be advantageous in the competitive landscape.
Moreover, the potential for palazestrant monotherapy to address the unmet needs in ESR1 wild-type patients, who represent a significant portion of the patient population, further supports the Buy rating. The ongoing OPERA-01 trial, which is expected to provide more data by 2026, could reveal additional benefits in this subgroup, offering significant upside potential. The stock’s current valuation does not fully reflect these opportunities, making it an attractive investment at this stage.
In another report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $25.00 price target.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OLMA in relation to earlier this year.
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