In a report released today, Emily Bodnar from H.C. Wainwright maintained a Buy rating on Olema Pharmaceuticals (OLMA – Research Report), with a price target of $30.00.
Emily Bodnar has given her Buy rating due to a combination of factors related to Olema Pharmaceuticals’ promising developments in the treatment of metastatic breast cancer. The positive interim data from AstraZeneca’s SERENA-6 Phase 3 trial, which demonstrated significant improvement in progression-free survival (PFS) with the camizestrant and CDK4/6 inhibitor combination, bodes well for Olema’s own palazestrant and ribociclib combination. This is particularly significant as Olema’s palazestrant is the only oral SERD in development showing efficacy in both ESR1 mutant and wild-type patients, with a Phase 3 study set to begin in mid-2025.
Moreover, Olema’s strategy of using ribociclib, the only CDK4/6 inhibitor with proven overall survival benefits in first-line patients, further strengthens their position. The company’s ongoing clinical studies have shown strong synergistic efficacy and consistent safety across different patient cohorts, providing a solid foundation for future advancements. These strategic initiatives and promising clinical data underpin Bodnar’s positive outlook on Olema Pharmaceuticals, justifying the Buy rating.