Olema Pharmaceuticals (OLMA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Emily Bodnar from H.C. Wainwright maintained a Buy rating on the stock and has a $30.00 price target.
Emily Bodnar’s rating is based on the promising potential of Olema Pharmaceuticals’ palazestrant, which has shown encouraging results in clinical trials. The drug’s mechanism as a complete estrogen receptor antagonist (CERAN) differentiates it from other oral SERDs, potentially offering benefits to both ESR1 mutant and wild-type patients. In Phase 2 trials, palazestrant demonstrated a median progression-free survival (PFS) of 7.2 months, with similar outcomes in both ESR1 mutant and wild-type populations, suggesting its broad efficacy.
Furthermore, the combination of palazestrant with ribociclib showed a median PFS of over 13 months, surpassing results from other oral SERD and CDK4/6 inhibitor combinations. This indicates a potentially best-in-class efficacy, particularly in patients who have been pretreated with CDK4/6 inhibitors and endocrine therapy. The ongoing study and future updates are expected to further validate these findings, supporting the Buy rating due to the drug’s differentiated efficacy profile and potential for first-line treatment in metastatic breast cancer.
Bodnar covers the Healthcare sector, focusing on stocks such as AnaptysBio, Olema Pharmaceuticals, and Jasper Therapeutics. According to TipRanks, Bodnar has an average return of -5.8% and a 26.82% success rate on recommended stocks.
In another report released on March 5, Oppenheimer also reiterated a Buy rating on the stock with a $30.00 price target.
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