H.C. Wainwright analyst Emily Bodnar maintained a Buy rating on Olema Pharmaceuticals today and set a price target of $28.00.
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Emily Bodnar’s rating is based on Olema Pharmaceuticals’ significant progress in the clinical development of palazetrant, a promising treatment in the ER+/HER2- metastatic breast cancer setting. The company has initiated a pivotal Phase 3 trial combining palazetrant with ribociclib, backed by encouraging Phase 1b/2 data that demonstrated notable efficacy in both ESR1 mutant and wild-type patients. The data showed a substantial benefit in progression-free survival compared to competitor trials, highlighting palazetrant’s potential as a best-in-class therapy.
Additionally, Olema’s collaboration with Pfizer to evaluate palazetrant in combination with atirmociclib further validates its potential as a backbone endocrine therapy. This partnership, along with ongoing trials, underscores the confidence in palazetrant’s differentiated efficacy profile and its ability to combine effectively with novel agents, supporting Emily Bodnar’s Buy rating for Olema Pharmaceuticals.
Bodnar covers the Healthcare sector, focusing on stocks such as Agenus, Olema Pharmaceuticals, and Atossa Therapeutics. According to TipRanks, Bodnar has an average return of 5.9% and a 37.02% success rate on recommended stocks.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $27.00 price target.