Guggenheim analyst Paul Jeng initiated coverage of Ideaya Biosciences (IDYA) with a Buy rating and $50 price target Ideaya is a clinical-stage Biotech company with a deep precision oncology pipeline built through its in-house R&D engine and BD proficiencies, and the firm’s investment thesis on the stock is anchored on the company’s late-stage asset, darovasertib, which has the potential to become the leading treatment regimen for metastatic uveal melanoma across all lines of therapy, the analyst tells investors in a research note.
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