Olema Oncology (OLMA) Remains a Top SMidcap Idea at Jefferies Ahead of Key Breast Cancer Data

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."

For an analyst ratings summary and ratings history on Olema Pharmaceuticals click here. For more ratings news on Olema Pharmaceuticals click here.

Shares of Olema Pharmaceuticals closed at $49.67 yesterday.

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