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OnKure Therapeutics initiated with an Outperform at Oppenheimer

Oppenheimer analyst Matt Biegler initiated coverage of OnKure Therapeutics with an Outperform rating and $35 price target The analyst believes OKI-219 can become the “go-to option” for one of the most frequent mutations in breast cancer. OnKureb’s 8-fold selectivity over its nearest competitor can give it a performance advantage in this $1B-plus market, the analyst tells investors in a research note. The firm says breast cancer treatment is “rapidly heading toward rational combinations up-front and in combination, tolerability is king.”

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