IDEAYA Biosciences (NASDAQ:IDYA) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report sent to investors on Tuesday morning,Benzinga reports.

IDYA has been the subject of a number of other reports. Stephens began coverage on shares of IDEAYA Biosciences in a research report on Monday, November 18th. They set an “overweight” rating and a $51.00 price target for the company. UBS Group assumed coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They set a “buy” rating and a $50.00 target price for the company. Stifel Nicolaus raised their price target on IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Leerink Partners downgraded IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Finally, Leerink Partnrs cut shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $26.33 on Tuesday. IDEAYA Biosciences has a 52-week low of $24.72 and a 52-week high of $47.74. The stock’s 50-day simple moving average is $28.57 and its 200 day simple moving average is $34.23. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -11.30 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results 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 earned ($0.46) earnings per share. On average, research analysts forecast that IDEAYA Biosciences will post -2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IDYA. State Street Corp increased its stake in shares of IDEAYA Biosciences by 15.4% in the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after buying an additional 443,640 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of IDEAYA Biosciences by 38.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock valued at $117,000 after purchasing an additional 927 shares in the last quarter. Quest Partners LLC bought a new stake in shares of IDEAYA Biosciences during the 2nd quarter valued at about $41,000. Scientech Research LLC increased its position in shares of IDEAYA Biosciences by 362.3% during the second quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock valued at $973,000 after buying an additional 21,714 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its stake in IDEAYA Biosciences by 34.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company’s stock worth $31,056,000 after buying an additional 226,514 shares in the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.