IDEAYA Biosciences (IDYA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Charles Zhu from LifeSci Capital maintained a Buy rating on the stock and has a $58.00 price target.
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Charles Zhu’s rating is based on a combination of strategic advancements and promising clinical developments by IDEAYA Biosciences. The company has made significant progress in its clinical trials, particularly with its darovasertib and crizotinib combination for mUM, which has seen robust patient enrollment. This indicates a positive trajectory for their first-line treatment trials.
Additionally, IDEAYA has expanded its collaboration with Gilead to evaluate IDE397 in combination with Trodelvy for MTAP- NSCLC, showcasing its strategic partnerships and potential for growth in different cancer types. Furthermore, IDEAYA’s internal development of a new PRMT5 inhibitor and the winding down of its collaboration with AMGN reflect a strategic shift toward internal innovation. These factors, combined with a strong pipeline and effective management, underpin Zhu’s Buy rating.
Zhu covers the Healthcare sector, focusing on stocks such as IDEAYA Biosciences, Kura Oncology, and Merus. According to TipRanks, Zhu has an average return of -11.1% and a 28.75% success rate on recommended stocks.