Leerink Partners analyst Andrew Berens has maintained their neutral stance on IDYA stock, giving a Hold rating on July 31.
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Andrew Berens has given his Hold rating due to a combination of factors surrounding IDEAYA Biosciences’ current pipeline developments and upcoming clinical trial results. The company’s programs are progressing as planned, with a significant upcoming milestone being the median progression-free survival data from the Phase 3 trial of darovasertib and crizotinib in metastatic uveal melanoma expected by the end of 2025. This result could potentially lead to an accelerated approval filing in the US, although full approval will require a demonstrated benefit in overall survival.
Additionally, the company is set to present updated overall survival data from a Phase 2 trial at a medical conference, which could provide insights into the success likelihood of the Phase 3 trial. Investors are likely anticipating strong overall survival results, especially given the competitive landscape. Moreover, initial safety and efficacy data from other pipeline projects are expected to be presented soon, which could influence future stock performance. These factors contribute to a cautious approach, justifying the Hold rating as the company navigates these pivotal developments.
According to TipRanks, Berens is a 3-star analyst with an average return of 1.5% and a 42.39% success rate. Berens covers the Healthcare sector, focusing on stocks such as AstraZeneca, Incyte, and Cogent Biosciences.
In another report released on July 31, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $26.00 price target.