Goldman Sachs initiated coverage of Olema Oncology with a Buy rating and $24 price target. The company’s lead asset, palazestrant is being developed for advanced/metastatic ER+/HER2- breast cancer with total addressable market of 200,000 patients in the U.S. and Europe, the analyst tells investors in a research note. The firm sees “best-in-class potential” in a large ER+/HER2- breast cancer market and the possibility of Olema securing a biopharma partnership deal that could bring additional value to the stock.
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