J.P. Morgan Remains a Buy on IDEAYA Biosciences (IDYA)

In a report released on August 23, Anupam Rama from J.P. Morgan maintained a Buy rating on IDEAYA Biosciences (IDYAResearch Report), with a price target of $18.00. The company’s shares closed yesterday at $10.38.

Rama covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, Springworks Therapeutics, and Elevation Oncology. According to TipRanks, Rama has an average return of 3.1% and a 46.49% success rate on recommended stocks.

In addition to J.P. Morgan, IDEAYA Biosciences also received a Buy from Oppenheimer’s Matthew Biegler in a report issued on August 16. However, on August 15, Stifel Nicolaus downgraded IDEAYA Biosciences (NASDAQ: IDYA) to a Hold.

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Based on IDEAYA Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.85 million and a GAAP net loss of $22.06 million. In comparison, last year the company earned a revenue of $8.76 million and had a GAAP net loss of $10.95 million

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IDEAYA Biosciences, Inc. develops cancer therapeutics. It is an oncology-focused precision medicine company committed to the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company operates and manages its business as one operating and reportable segment, which is the business of research and development for oncology-focused precision medicine. The company was founded by Yujiro S. Hata and Jeffrey Hager in June 2015 and is headquartered in South San Francisco, CA.

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