As previously reported, Capital One analyst Zegbeh Jallah initiated coverage of Ideaya Biosciences with an Overweight rating and $29 price target. Ideaya has "strong precision medicine capabilities," inclusive of a Synthetic Lethality Platform, said Jallah, who thinks the SL program IDE397 in Phase 1 development "could be a blockbuster." Ideaya also has a Phase 3 ready program, darovasertib for metastatic uveal melanoma, or MUM, which "seems to have a clear market advantage," though the market size for "daro" remains limited with only limited data in the larger neoadjuvant setting, Jallah added. Jallah foresees "large revenue-generating opportunities" for daro and has positive expectations for the SL programs IDE397and IDE161, the analyst concluded.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on IDYA:
- Ideaya Biosciences initiated with an Overweight at Capital One
- Ideaya Biosciences to host virtual investor research and development day
- Ideaya Biosciences granted fast track designation for darovasertib
- Ideaya Biosciences announces Darrin Beaupre as chief medical officer
- IDEAYA Biosciences, Inc. Reports Third Quarter 2022 Financial Results and Provides Business Update