In a report released today, Anupam Rama from J.P. Morgan maintained a Buy rating on IDEAYA Biosciences, with a price target of $74.00.
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 related to IDEAYA Biosciences’ promising developments in their oncology pipeline. The recent phase 1 data for IDE849, presented at the IASLC 2025 World Conference on Lung Cancer, showed encouraging results with a high overall response rate (ORR) of 80% at the 2.4 mg/kg dose in the second-line setting and approximately 73.7% across all lines. This performance was notably better than competitors, such as Zai Lab’s ZL-1310, which showed decreasing ORR in subsequent lines of therapy.
Moreover, the safety profile of IDE849 was favorable, with a lower rate of dose interruptions and reductions compared to competitors. Additionally, IDEAYA’s lead asset, darovasertib, has already established proof-of-concept within uveal melanoma, providing a solid foundation for future growth. The company’s broader pipeline, including IDE849, offers significant long-term optionality and potential for value creation. These factors, combined with a positive sentiment momentum and a price target of $74, support the Buy rating.
Rama covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, AnaptysBio, and Apellis Pharmaceuticals. According to TipRanks, Rama has an average return of -2.4% and a 44.92% success rate on recommended stocks.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $45.00 price target.