Analyst Charles Zhu from LifeSci Capital maintained a Buy rating on IDEAYA Biosciences and keeping the price target at $62.00.
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Charles Zhu has given his Buy rating due to a combination of factors related to IDEAYA’s upcoming OpTimUM-02 Phase 2b/3 data and the regulatory backdrop. He views the decision to exclude Phase 2a patients from the progression-free survival analysis as a methodologically sound step that aligns with prior FDA feedback, reducing selection bias and improving the statistical rigor of the pivotal readout.
Zhu also remains constructive despite investor concerns about the control arm, which includes ipilimumab plus nivolumab and could perform well, because management indicates Phase 2a results broadly track prior single-arm outcomes for the selected 300 mg dose. Combined with IDEAYA’s solid cash position and multi‑year runway to fund operations through key catalysts, he believes the risk‑reward profile ahead of the late‑March topline results supports a Buy recommendation.