Olema Oncology price target raised to $40 from $20 at Guggenheim

Guggenheim raised the firm’s price target on Olema Oncology (OLMA) to $40 from $20 and keeps a Buy rating on the shares following news earlier this week that Roche’s (RHHBY) lidERA trial met its primary endpoint at a pre-planned interim analysis, showing a statistically significant and clinically meaningful improvement in invasive disease-free survival with giredestrant versus standard-of-care endocrine therapy. Following Roche’s Phase 3 lidERA adjuvant trial topline readout, the firm now sees a 50% probability of success for palazestrant in first-line HR+ mBC, up from a previously-predicted 30% chance, the analyst tells investors.