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.
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