TD Cowen analyst Tyler Van Buren has maintained their bullish stance on OLMA stock, giving a Buy rating on August 13.
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Tyler Van Buren has given his Buy rating due to a combination of factors that highlight Olema Pharmaceuticals’ promising developments and strategic positioning in the oncology market. The company is advancing its OPERA-01 program with a selected dose for Part 2, and is on track to initiate the Phase III OPERA-02 trial in the third quarter of 2025. This trial is significant as it explores a combination therapy with ribociclib, which is considered a preferred CDK4/6 inhibitor, and is expected to enroll approximately 1,000 patients. The financial backing from Novartis, covering the cost of ribociclib, represents a substantial cost saving for Olema, enhancing the financial attractiveness of the trial.
Additionally, the potential market for first-line treatment in combination with a CDK4/6 inhibitor is estimated to exceed $10 billion, indicating a lucrative opportunity for Olema. The upcoming presentation of mature Phase Ib/II data at ESMO and the anticipated persevERA data by year-end could serve as critical catalysts, validating the first-line opportunity and recalibrating investor expectations. These developments, coupled with the impressive median progression-free survival data from earlier trials, underpin Van Buren’s optimistic outlook on Olema’s stock.
In another report released on August 13, Citi also maintained a Buy rating on the stock with a $21.00 price target.
OLMA’s price has also changed slightly for the past six months – from $4.940 to $5.310, which is a 7.49% increase.