J.P. Morgan analyst Anupam Rama has maintained their bullish stance on IDYA stock, giving a Buy rating yesterday.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Anupam Rama has given his Buy rating due to a combination of factors surrounding IDEAYA Biosciences’ promising developments with darovasertib. The upcoming key updates for darovasertib in the treatment of uveal melanoma, both in the metastatic and neoadjuvant settings, are pivotal. The anticipated data from these updates, particularly the potential for a significant improvement in median overall survival in the metastatic setting, supports a positive outlook for the drug’s clinical profile.
Moreover, the replication of previous data in the neoadjuvant setting, especially concerning eye preservation rates, further strengthens the case for darovasertib’s efficacy. The potential for darovasertib to achieve a high rate of ocular tumor shrinkage is also seen as a compelling factor. These clinical advancements, coupled with the strategic positioning of IDEAYA Biosciences in the market, underpin Anupam Rama’s Buy rating for the stock.
In another report released yesterday, Citizens JMP also reiterated a Buy rating on the stock with a $45.00 price target.