Citizens JMP Initiates IDEAYA Biosciences (IDYA) With a Buy Rating

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) is one of the Best Stocks to Buy for the Next 3 Months According to Hedge Funds. On September 4, Citizens JMP analyst Ivan Tuerkcan initiated coverage of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) with a $41 price target.

The firm started coverage of the company after it announced enrolling the first patient with non-small cell lung cancer (NSCLC) in its Phase 1/2 clinical trial. This trial tests a combination of IDE397, a potential first-in-class MAT2A inhibitor, and Trodelvy, which is a Trop2-directed antibody-drug conjugate. The study targets solid tumors with MTAP deletion, a genetic alteration found in up to 20% of NSCLC patients.

The trial was initially focused on MTAP-deletion urothelial cancer; however, it expanded in April 2025 to include NSCLC. IDEAYA Biosciences, Inc. (NASDAQ:IDYA) is conducting the trial in collaboration with Gilead Sciences, which supplies Trodelvy. Both companies retain commercial rights to their drugs.

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) is a precision medicine oncology company focused on discovering and developing targeted cancer therapies.

While we acknowledge the potential of IDYA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IDYA and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.