Olema Oncology price target raised to $30 from $21 at Oppenheimer

Oppenheimer raised the firm’s price target on Olema Oncology (OLMA) to $30 from $21 and keeps an Outperform rating on the shares. As previously stated, the firm thinks Pfizer’s (PFE) KAT6 data were the most intriguing thing it saw at this year’s ASCO, and that Olema’s program could rival Pfizer’s in terms of safety and efficacy. Oppenheimer is now taking the opportunity to add OP-3136 program to Olema’s model – initially in the 2/3L setting, with the added possibility to expand into a frontline triplet if the drug’s selectivity can translate to a lower rate of neutropenia than Pfizer’s.