Olema Oncology (OLMA) Remains a Top SMidcap Idea at Jefferies Ahead of Key Breast Cancer Data
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Jefferies analyst Michael Yee reiterated a Buy rating and $70.00 price target on Olema Pharmaceuticals (NASDAQ: OLMA) citing the company as a top SMIDcap idea for two reasons:
1) growing interest in oral SERDs, which is a >$10B mkt and this year will be further de-risked by SNY pivotal data H1
2) potential for differentiation over others that may have tolerability issues.
The analyst stated "OLMA Phase I/II data in next 6-12 months should give investors greater clarity into activity and support our view to move to Phase II and OLMA has a pot'l big blockbuster on their hands." "OLMA continues to execute after a successful IPO and the focus will be on the company's oral CERAN OP-1250, which is in Phase I/II in HR+/HER2- metastatic breast cancer. Preclinical data looks strong and enables OLMA to differentiate from competitors on safety/efficacy as initial monotherapy data reads out in H2 and combo trials w/ CDK4/6, which are now standard of care, should begin in H2."
Shares of Olema Pharmaceuticals closed at $49.67 yesterday.
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