JPMorgan raised the firm’s price target on Ideaya Biosciences (IDYA) to $79 from $74 and keeps an Overweight rating on the shares. The firm cites an increased probability of success for darovasertib in the neoadjuvant setting, to 70% from 60%, for the target bump. It estimates peak sales of darovasertib to be $500M in the U.S. alone. JPMorgan sees share upside for Ideaya into the metastatic uveal melanoma update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IDYA:
- Ideaya Biosciences price target raised to $30 from $27 at Goldman Sachs
- Ideaya Biosciences price target raised to $41 from $38 at RBC Capital
- Promising Potential of IDEAYA Biosciences’ Darovasertib: Strong Efficacy and Safety in Uveal Melanoma Trials
- IDEAYA Biosciences Presents Promising Phase 2 Data
- IDEAYA Biosciences: Promising Phase 1/2 Trial Results and Strong Upside Potential Justify Buy Rating