Ideaya Biosciences (IDYA) PT Raised to $65 at Truist Securities
Truist Securities analyst Greg Renza raised the price target on Ideaya Biosciences (NASDAQ: IDYA) to $65.00 (from $60.00) while maintaining a Buy rating.
The analyst comments "Today's disclosure highlights daro's best-in-class PFS and consistent efficacy to an earlier study which together with a favorable OS trend and mgmt's comfort provide meaningful derisking signals for the OS outcome (1H27E). Based on 6.9-mos mPFS and 37% ORR, we believe the daro combo is approvable via the AA pathway and could be used in both HLAnegative and HLA-positive populations. We project potential approval by YE26/early-2027, assuming a relatively aggressive regulatory timeline which could ultimately unlock our $800M+ peak revenue potential in MUM (and ~$1.7B across settings). Assigning a higher PoS, we raise our PT to $65 (from $60) and reiterate Buy."