Guggenheim analyst Paul Jeng raised the firm’s price target on Ideaya Biosciences (IDYA) to $54 from $50 and keeps a Buy rating on the shares following positive topline results from the pivotal Phase 2/3 OptimUM-02 study for lead asset darovasertib. The firm is updating its model following the positive topline results to reflect increased odds of success for darovasertib in first-line metastatic uveal melanoma, the analyst noted.
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