Truist initiated coverage of Ideaya Biosciences (IDYA) with a Buy rating and $59 price target The company’s lead asset, darovasertib/PKCi has a major valuation inflection point approaching from the phase II/III MUM’s PFS topline readout that could support accelerated approval, the analyst tells investors in a research note. Based on strong phase II data and positive feedback from key opinion leaders, Truist sees favorable reward-risk profile for the upcoming phase II/III PFS topline readout with roughly 85% probability.
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