TD Cowen analyst Tyler Van Buren has maintained their bullish stance on IDYA stock, giving a Buy rating yesterday.
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Tyler Van Buren has given his Buy rating due to a combination of factors, including an updated financial model following IDEAYA Biosciences’ fourth-quarter earnings release and confidence in the company’s development trajectory. He modestly adjusted projected research and development spending to reflect the growing number of late-stage clinical programs, particularly several Phase III trials anticipated to be underway by the end of the year.
This refinement signals that he expects IDEAYA’s pipeline advancement to drive meaningful long-term value despite higher near-term investment needs. Overall, the updated outlook supports his view that the company’s progress and upcoming clinical catalysts justify maintaining a positive stance on the stock and reiterating a Buy recommendation.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $65.00 price target.