Olema Oncology price target lowered to $25 from $30 at Oppenheimer

Oppenheimer analyst Matthew Biegler lowered the firm’s price target on Olema Oncology (OLMA) to $25 from $30 but keeps an Outperform rating on the shares after its Q4 results. The negative sentiment for the oral SERD class has impacted Olema price of late, but with shares now trading under cash, investors get an opportunity to add to existing positions, the analyst tells investors in a research note. Investors have written off oral SERD developers completely after EMBER-3 and more recently VERITAC-2, but there is a big binary coming in the form of PersevERA, and if positive, it could resuscitate the modality and then some, the firm added.