Optimism Surrounds Cancer Focused Ikena Oncology, Analyst Initiates With Outperform
Portfolio Pulse from Vandana Singh
Wedbush has initiated coverage on Ikena Oncology Inc (NASDAQ:IKNA) with an Outperform rating and a price target of $11. The company's lead asset, IK-930, a selective inhibitor of the transcriptional enhanced associate domain (TEAD), is currently being evaluated in a Phase 1 monotherapy study. Another promising asset is IK-595, a RAS pathway inhibitor. IKNA shares are up 12.14% at $4.6650.
September 22, 2023 | 6:16 pm
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Wedbush has initiated coverage on Ikena Oncology with an Outperform rating and a price target of $11. The company's lead asset, IK-930, is currently being evaluated in a Phase 1 study. IKNA shares are up 12.14%.
The Outperform rating from Wedbush and the ongoing Phase 1 study of IK-930 are positive developments for Ikena Oncology. These factors, along with the 12.14% increase in share price, indicate a positive short-term impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100