Emily Bodnar, an analyst from H.C. Wainwright, maintained the Buy rating on Olema Pharmaceuticals. The associated price target remains the same with $28.00.
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Emily Bodnar’s rating is based on the promising potential of Olema Pharmaceuticals’ palazestrant in treating both ESR1-mutated and ESR1 wild-type patients. The OPERA-01 trial has shown encouraging results, particularly in ESR1 wild-type patients, which could position palazestrant as a best-in-class therapy. The trial’s design and the selection of the 90 mg dose, in alignment with the FDA’s Project Optimus, suggest a strategic approach to optimizing treatment efficacy.
Furthermore, the approval of similar therapies like Inluriyo for ESR1-mutated patients highlights a significant market opportunity for Olema Pharmaceuticals. With the potential to address an untapped population of ESR1 wild-type patients, Olema’s palazestrant could achieve broad FDA approval if the ongoing trials continue to yield positive outcomes. This combination of factors underpins Emily Bodnar’s Buy rating for Olema Pharmaceuticals.
In another report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $22.00 price target.
Based on the recent corporate insider activity of 18 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.