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

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

A number of other equities research analysts have also recently weighed in on IDYA. Citigroup reduced their price target on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. JPMorgan Chase & Co. cut their price target on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald initiated coverage on IDEAYA Biosciences in a research note on Tuesday, October 15th. They issued an “overweight” rating for the company. Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA opened at $26.60 on Monday. IDEAYA Biosciences has a 1 year low of $25.20 and a 1 year high of $47.74. The stock has a market cap of $2.30 billion, a P/E ratio of -11.42 and a beta of 0.86. The stock has a 50-day simple moving average of $30.60 and a 200-day simple moving average of $35.94.

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, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same period last year, the company earned ($0.46) earnings per share. On average, equities research analysts predict that IDEAYA Biosciences will post -2.46 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in IDYA. Allworth Financial LP lifted its stake 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 purchasing an additional 800 shares during the period. Covestor Ltd increased its holdings in 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 buying an additional 922 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of IDEAYA Biosciences during the 2nd quarter valued at approximately $41,000. Comerica Bank boosted its stake in shares of IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after acquiring an additional 1,324 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of IDEAYA Biosciences by 67.2% in the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after acquiring an additional 689 shares during the period. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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.