Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on Olema Pharmaceuticals and keeping the price target at $27.00.
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Sam Slutsky has given his Buy rating due to a combination of factors, primarily highlighting the strategic collaboration between Olema Pharmaceuticals and Pfizer. This partnership involves a clinical trial agreement to explore the combination of Olema’s palazestrant with Pfizer’s CDK4 inhibitor, atirmociclib, in treating advanced/metastatic ER+ breast cancer. The potential for this combination to advance to a pivotal trial in the frontline setting indicates a promising development path for Olema’s oral SERD/CERAN program.
Moreover, the collaboration positions Olema favorably in the competitive landscape of oral SERD treatments, where other major players like Arvinas, Eli Lilly, Roche, and AstraZeneca are also active. The anticipated positive outcomes from ongoing trials, such as Pfizer’s FourLight-3 and Olema’s OPERA-02, could further strengthen Olema’s standing in the market. Additionally, the financial metrics, including the company’s cash position and short interest, support a stable outlook, contributing to the Buy rating.