Breast cancer drug stock Olema could more than double from here, analysts say

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OLMA

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Wall Street is optimistic that Olema Pharmaceutical could be developing the next major breakthrough breast cancer treatment.

Earlier this month, the company announced promising clinical data for its lead candidate palazestrant, an oral medication that is being evaluated in several trials for estrogen receptor-positive, or ER+, breast cancer.

Shares of the clinical-stage biopharmaceutical company are up about 50% this year, and more than 70% over the past three months. Analysts polled by FactSet see plenty of upside ahead for Olema. Their average price target of $23.71 per share suggests the stock could skyrocket about 164% from its last closing price.

Olema was included in CNBC's recent screen of com