Jefferies Reiterates Buy Rating on Olema Pharmaceuticals (OLMA)

Jefferies analyst Michael Yee reiterated a Buy rating and $30.00 price target on Olema Pharmaceuticals (NASDAQ: OLMA).

The analyst comments "Thursday, Olema presented additional data on its KAT6 inhibitor, OP-3136. Recall that Olema shares rallied after Pfizer unveiled first-in-human data for its KAT6 program (PF-07248144) at ASCO in June. Based on today's presentation, we think Olema's drug has no reason to hide: Its synergy with anti-estrogens or CDK4/6 inhibitors, combined with superior in vivo efficacy over Pfizer's KAT6i, is encouraging. The space is getting busy (Menarini recently initiated a Ph1 trial for MEN2312), but Olema is gaining ground: OP-3136 is expected to enter Ph1 in early 2025. Besides, Pfizer's '8144 has derisked the pathway while leaving ample room for improvement when it comes to safety (in our view). Reiterate Outperform; $30 PT."

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 $11.91 yesterday.

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