Olema Pharmaceuticals (OLMA) shares surged nearly 136% after Roche (RHHBY) reported strong clinical results for its breast cancer drug giredestrant. OLMA is also developing an oral SERD, boosting confidence in its pipeline. Analysts raised OLMA’s price target to $45, anticipating further upside in the multibillion-dollar market.

Roche’s giredestrant, the first oral SERD to outperform an aromatase inhibitor in early stage breast cancer, validates OLMA’s palazestrant. This positive development increases the probability of palazestrant’s success to 75%, up from 50% before. Analysts maintain an “Outperform” rating on OLMA, predicting significant market share in early breast cancer.

Despite the initial surge, analysts believe there is still room for OLMA shares to grow based on the company’s clinical data performance. The consensus rating on OLMA stock is a “Strong Buy” with a mean target of $24, indicating potential upside of about 9%.

Read more at Yahoo Finance: Olema Pharmaceuticals Has Nearly Tripled on Cancer Drug Hopes. How Should You Play OLMA Stock Here?