RBC Capital analyst Gregory Renza raised the firm’s price target on Ideaya Biosciences to $61 from $53 and keeps an Outperform rating on the shares. The company disclosed a clinical update on IDE397, comfortably establishing its monotherapy efficacy and safety in MTAP-deletion solid tumors, whcih boldly rival competitors, the analyst tells investors in a research note. The firm sees the data as strengthening the rational for IDE397 to be explored in combination settings.
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