Leerink Partners analyst Andrew Berens has maintained their neutral stance on IDYA stock, giving a Hold rating on September 2.
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Andrew Berens’s rating is based on the recent licensing agreement between IDEAYA Biosciences and Servier, which grants Servier the ex-US rights to darovasertib, while IDEAYA retains the US rights. This deal includes a substantial upfront payment and potential milestone payments, which are favorable for IDEAYA. However, the lengthy development timelines for darovasertib in the adjuvant setting, as evidenced by similar trials, may pose challenges. The potential delay in the mPFS readout for the HLA-negative metastatic UM trial also adds uncertainty. These factors combined lead to a Hold rating, as the favorable financial terms are balanced by the developmental and timeline risks.
In another report released on September 2, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $26.00 price target.