Ideaya Biosciences price target raised to $40 from $35 at Oppenheimer

Oppenheimer raised the firm’s price target on Ideaya Biosciences to $40 from $35 and keeps an Outperform rating on the shares. The company announced a “substantial” pipeline update two weeks ago that incrementally derisk Ideaya’s story, the analyst tells investors in a research note. The firm says the darovasertib plus crizotonib combination still looks” head-and-shoulders better than anything out there for uveal melanoma.” In addition, IDE397 continues to demonstrate clear single-agent activity, according to Oppenheimer.