JPMorgan Chase & Co. Increases IDEAYA Biosciences (NASDAQ:IDYA) Price Target to $74.00

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective boosted by JPMorgan Chase & Co. from $72.00 to $74.00 in a research report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research analysts also recently commented on the stock. Royal Bank Of Canada raised shares of IDEAYA Biosciences from an “outperform” rating to a “moderate buy” rating and reduced their price target for the stock from $57.00 to $30.00 in a research note on Wednesday, July 9th. TD Cowen started coverage on shares of IDEAYA Biosciences in a research note on Tuesday, July 22nd. They issued a “buy” rating on the stock. The Goldman Sachs Group raised shares of IDEAYA Biosciences to a “hold” rating and set a $25.00 price target on the stock in a research note on Thursday, July 10th. Finally, Wells Fargo & Company started coverage on shares of IDEAYA Biosciences in a research note on Thursday, June 26th. They issued an “overweight” rating and a $44.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and three have given a Hold 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 $47.30.

IDEAYA Biosciences Stock Up 1.1%

IDYA stock opened at $25.76 on Wednesday. IDEAYA Biosciences has a 52 week low of $13.45 and a 52 week high of $39.30. The company has a fifty day simple moving average of $23.47 and a two-hundred day simple moving average of $20.56. The firm has a market capitalization of $2.26 billion, a P/E ratio of -6.80 and a beta of 0.12.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, August 5th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.03). The firm had revenue of $6.00 million for the quarter, compared to analyst estimates of $3.48 million. During the same quarter in the prior year, the company posted ($0.68) earnings per share. The company’s revenue for the quarter was up NaN% on a year-over-year basis. As a group, analysts anticipate that IDEAYA Biosciences will post -3.07 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors have recently modified their holdings of IDYA. Janus Henderson Group PLC lifted its holdings in IDEAYA Biosciences by 13.5% in the fourth quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company’s stock valued at $150,606,000 after acquiring an additional 695,263 shares during the period. Millennium Management LLC lifted its holdings in IDEAYA Biosciences by 345.2% in the first quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock valued at $8,970,000 after acquiring an additional 424,625 shares during the period. Ensign Peak Advisors Inc lifted its holdings in IDEAYA Biosciences by 126.4% in the second quarter. Ensign Peak Advisors Inc now owns 741,833 shares of the company’s stock valued at $15,593,000 after acquiring an additional 414,189 shares during the period. MPM Bioimpact LLC acquired a new stake in IDEAYA Biosciences in the fourth quarter valued at $10,641,000. Finally, Fiera Capital Corp lifted its holdings in IDEAYA Biosciences by 26.6% in the second quarter. Fiera Capital Corp now owns 1,532,269 shares of the company’s stock valued at $32,208,000 after acquiring an additional 322,404 shares during the period. 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.