Citizens JMP raised the firm’s price target on Ideaya Biosciences (IDYA) to $45 from $41 and keeps an Outperform rating on the shares. Ideaya’s partner Hengrui showed best-in-class efficacy as well as duration compared to the competitive landscape with DLL-3 ADC IDE849 in updated Phase 1 data in Chinese patients, clearing a hurdle with more room than anticipated, the analyst tells investors in a research note. The firm is “very impressed” by the results.
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