Ideaya Biosciences price target raised to $50 from $40 at Oppenheimer

Oppenheimer raised the firm’s price target on Ideaya Biosciences to $50 from $40 and keeps an Outperform rating on the shares after the company reported Q4 results. The firm believes the science is highly de-risked which means at this point, “it’s all about execution.” Investors still on the fences are waiting for more proof-of-concept that darovasertib is clinically useful in the coadjutant setting and that saving eyes is an endpoint that the FDA actually cares about, the analyst tells investors in a research note.