Olema Oncology price target raised to $26 from $18 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Olema Oncology (OLMA) to $26 from $18 and keeps a Buy rating on the shares. Roche’s (RHHBY) positive Phase 3 lidERA results strengthen confidence in next-generation SERDs and improve Olema’s outlook, reinforced by a recent $190M capital raise that enhances financial flexibility and trial optionality, the analyst tells investors in a research note. While the probability of success for palazestrant in 1L mBC has been increased and risk assumptions modestly reduced, meaningful uncertainties remain, particularly prior mixed giredestrant results and the complexity of non-ER mutations, leaving a cautiously optimistic stance ahead of the Phase 3 persevERA readout in 1Q26, Goldman says.