Goldman Sachs Maintains Buy Rating for IDEAYA Biosciences: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Goldman Sachs has reaffirmed its Buy rating on IDEAYA Biosciences (NASDAQ:IDYA) and increased its price target from $36.00 to $53.00. IDEAYA's shares have risen 1.61% in the last 24 hours to $42.21. The new price target suggests a potential upside of 25.56%. IDEAYA is an oncology-focused precision medicine company with its lead product candidate IDE196 targeting genetically-defined cancers.
January 25, 2024 | 5:00 pm
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Goldman Sachs maintains a Buy rating on IDEAYA Biosciences and raises the price target to $53, indicating a significant potential upside from the current price.
The reaffirmation of a Buy rating and an increased price target by a reputable investment bank like Goldman Sachs typically instills confidence in investors and can lead to a positive short-term price movement. The 25.56% potential upside from the new price target is significant and may attract investor interest, potentially driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100