Ideaya Biosciences price target raised to $60 from $40 at Citi

Citi raised the firm’s price target on Ideaya Biosciences to $60 from $40 and keeps a Buy rating on the shares. While the shares have performed well, rising 26% year-to-date, the rally is not over, the analyst tells investors in a research note. The firm refreshed its model to reflect Ideaya’s “rapidly advancing pipeline,” most notably adding IDE161 in homologous recombination-deficient solid tumors to the valuation. Citi also believes the company remains an attractive takeover target.