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.

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