tiprankstipranks
Trending News
More News >

IDEAYA Biosciences: Hold Rating Amid Promising Trials and Uncertainties

IDEAYA Biosciences: Hold Rating Amid Promising Trials and Uncertainties

Analyst Andrew Berens from Leerink Partners maintained a Hold rating on IDEAYA Biosciences (IDYAResearch Report) and keeping the price target at $27.00.

Confident Investing Starts Here:

Andrew Berens has given his Hold rating due to a combination of factors surrounding IDEAYA Biosciences’ recent developments and future prospects. The company has reported multiple clinical updates, particularly regarding its Phase 3 trial of darovasertib combined with crizotinib for metastatic uveal melanoma, which shows promise with an mPFS improvement. However, the ultimate success and potential accelerated approval hinge on further data, particularly overall survival outcomes expected later in the year.
Additionally, while there are advancements in other areas such as the neoadjuvant UM trials and the PRMT5 + MAT2A combination approach, uncertainties remain. The lack of demonstrated benefit in vision loss for brachyradiotherapy patients and the unclear timeline for combination data in urothelial cancer contribute to a cautious outlook. These factors collectively suggest a balanced risk-reward scenario, justifying the Hold rating.

IDYA’s price has also changed dramatically for the past six months – from $30.410 to $17.750, which is a -41.63% drop .

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue