Olema Oncology price target lowered to $27 from $38 at Goldman Sachs

Goldman Sachs analyst Richard Law lowered the firm’s price target on Olema Oncology (OLMA) to $27 from $38 and keeps a Buy rating on the shares. Olema Oncology reported Q4 results, with $505.4M in cash expected to fund operations into mid-2028, alongside multiple clinical updates including Phase 3 OPERA-01 topline data expected in the fall, the analyst tells investors in a research note. Despite giredestrant’s Phase 3 persevERA miss, confidence remains in palazestrant’s potential in 1L ER+/HER2- mBC, though Goldman notes possible near-term volatility around upcoming ASCO data.