JPMorgan raised the firm’s price target on Olema Oncology to $19 from $16 and keeps an Overweight rating on the shares. The analyst says updated Phase 2 monotherapy OP-1250 data in patients with advanced / metastatic ER+ / HER2- breast cancer are expected on October 22. The firm looks for Olema’s share momentum to continue with key catalysts on the horizon, which it feels should continue to build on the emerging clinical profile of OP-1250. On a “win scenario” for OP-1250 monotherapy, JPMorgan is looking for upside into the mid teens per share level versus “low probability downside” into the high single digits.
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