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 as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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