Oppenheimer raised the firm’s price target on Olema Oncology (OLMA) to $48 from $45 and keeps an Outperform rating on the shares. The firm says Roche’s (RHHBY) lidERA results marked the first time an oral selective estrogen receptor degrader beat an aromatase inhibitor “fair and square.” Oppenheimer says only Olema’s palazestrant can match Roche’s giredestrant. “As the best oral SERD out there (in our view), lidERA considerably boosts palazestrant’s optionality,” the analyst tells investors in a research note.
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