IDEAYA Biosciences (NASDAQ:IDYA) Earns Overweight Rating from Analysts at Stephens

Stephens initiated coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report report published on Monday, Marketbeat Ratings reports. The firm issued an overweight rating and a $51.00 price target on the stock.

IDYA has been the subject of a number of other research reports. Citigroup decreased their price objective on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Wedbush restated an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a report on Monday, November 4th. Stifel Nicolaus raised their price objective on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald assumed coverage on shares of IDEAYA Biosciences in a research report on Tuesday, October 15th. They set an “overweight” rating for the company. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $25.54 on Monday. The firm has a 50-day moving average of $30.79 and a 200-day moving average of $36.00. The company has a market cap of $2.21 billion, a P/E ratio of -10.96 and a beta of 0.86. IDEAYA Biosciences has a one year low of $25.35 and a one year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the previous year, the company posted ($0.46) EPS. As a group, research analysts expect that IDEAYA Biosciences will post -2.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of large investors have recently modified their holdings of IDYA. Allworth Financial LP boosted its position in shares of IDEAYA Biosciences by 800.0% in the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 800 shares during the period. Covestor Ltd boosted its position in shares of IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after acquiring an additional 922 shares during the period. Quest Partners LLC bought a new stake in IDEAYA Biosciences during the second quarter valued at approximately $41,000. US Bancorp DE lifted its position in IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after purchasing an additional 689 shares during the last quarter. Finally, Comerica Bank lifted its position in IDEAYA Biosciences by 723.5% during the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after purchasing an additional 1,324 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.