Ideaya Biosciences (IDYA, Financial) has successfully concluded discussions with the FDA regarding the Phase 3 trial design for its drug, darovasertib, intended for use in a neoadjuvant setting. The FDA has approved the proposed endpoints for the study, aligning with the company's expectations. This development has been positively received by Oppenheimer, which has reaffirmed its Outperform rating for the stock, setting a price target of $40.
The trial will incorporate "no detriment" event-free survival as a secondary endpoint, a decision that Oppenheimer appreciates as a balanced approach. The firm notes that the trial design remains in line with previous guidance provided by Ideaya.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 12 analysts, the average target price for IDEAYA Biosciences Inc (IDYA, Financial) is $51.67 with a high estimate of $63.00 and a low estimate of $27.00. The average target implies an upside of 212.00% from the current price of $16.56. More detailed estimate data can be found on the IDEAYA Biosciences Inc (IDYA) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, IDEAYA Biosciences Inc's (IDYA, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for IDEAYA Biosciences Inc (IDYA, Financial) in one year is $1.56, suggesting a downside of 90.58% from the current price of $16.56. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the IDEAYA Biosciences Inc (IDYA) Summary page.
