Oct. 21 at 10:16 AM
RBC Capital⬆️the PT on
$IDYA to
$41 from
$38 and reiterated at an Outperform after at ESMO IDYA presented data on eye and visual acuity preservation from daro in the neo-adjuvant setting, building on abstract data in the metastatic setting from Friday.
$IMCR $PFE BMY
RBC Capital added:
Between the two datasets, we see evidence of very impressive anti-tumor efficacy leading to meaningful survival benefits, eye preservation and visual benefits, which we think increase the likelihood that upcoming ph.Ill trials will read out positively.
While given the rarity of uveal melanoma, daro may be a somewhat smaller oncology opportunity, we think shares are not reflecting the combination of a ~
$1B W.W. net revenue potential for daro and the pipeline assets IDYA has, and we are taking our tgt to
$41 on the back of impressive UM data.
