Emily Bodnar, an analyst from H.C. Wainwright, maintained the Buy rating on Olema Pharmaceuticals (OLMA – Research Report). The associated price target remains the same with $30.00.
Emily Bodnar’s rating is based on the promising results from Olema Pharmaceuticals’ combination study of palazestrant and ribociclib in treating ER+/HER2- metastatic breast cancer. The study showed a median progression-free survival (PFS) of over 13 months, which is notably higher than competitor studies that typically report 8-9 months. This suggests a potentially best-in-class efficacy for Olema’s treatment, especially considering the differentiated efficacy profile across various patient subtypes.
Furthermore, the ongoing trials and the company’s strategy to initiate a Phase 3 study in 2025 highlight the potential for Olema’s treatment to be effective in both ESR1 mutant and wild-type patients. The anticipation of further data presentations and the unmet need in ESR1 wild-type patients bolster confidence in Olema’s approach. These factors collectively contribute to Emily Bodnar’s Buy rating, reflecting optimism about the company’s future prospects and its potential impact on the treatment landscape.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OLMA in relation to earlier this year.