Ideaya Biosciences initiated with an Outperform at Citizens JMP

Citizens JMP analyst lvan Tuerkcan initiated coverage of Ideaya Biosciences (IDYA) with an Outperform rating and $41 price target Ideaya is a clinical-stage biotechnology company focused on developing novel therapies in oncology, the analyst tells investors in a research note. The firm says the company’s synthetic lethality platform has created a broad pipeline of targeted therapies with established or de-risked mechanisms of action.