IDEAYA Biosciences (NASDAQ:IDYA) Receives Overweight Rating from Stephens

Stephens restated their overweight rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a report released on Tuesday morning,Benzinga reports. The firm currently has a $45.00 price objective on the stock.

Several other brokerages also recently issued reports on IDYA. Citizens Jmp started coverage on IDEAYA Biosciences in a report on Thursday, September 4th. They issued a “mkt outperform” rating and a $41.00 price target for the company. JMP Securities started coverage on IDEAYA Biosciences in a report on Thursday, September 4th. They issued a “market outperform” rating and a $41.00 price target for the company. JPMorgan Chase & Co. increased their price target on IDEAYA Biosciences from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Wells Fargo & Company began coverage on IDEAYA Biosciences in a research note on Thursday, June 26th. They set an “overweight” rating and a $44.00 target price for the company. Finally, Citigroup assumed coverage on IDEAYA Biosciences in a research note on Thursday, September 4th. They set an “outperform” rating for the company. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average target price of $42.75.

IDEAYA Biosciences Stock Up 0.9%

IDYA stock opened at $24.93 on Tuesday. IDEAYA Biosciences has a 52 week low of $13.45 and a 52 week high of $37.80. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -6.58 and a beta of 0.12. The business has a fifty day simple moving average of $23.89 and a 200-day simple moving average of $20.72.

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

Hedge Funds Weigh In On IDEAYA Biosciences

A number of large investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its holdings in IDEAYA Biosciences by 59.1% in the second quarter. Osaic Holdings Inc. now owns 7,443 shares of the company’s stock worth $148,000 after acquiring an additional 2,764 shares during the last quarter. Orion Porfolio Solutions LLC lifted its holdings in IDEAYA Biosciences by 23.6% in the second quarter. Orion Porfolio Solutions LLC now owns 44,625 shares of the company’s stock worth $938,000 after acquiring an additional 8,514 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in IDEAYA Biosciences by 10.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 17,416 shares of the company’s stock worth $367,000 after acquiring an additional 1,609 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in IDEAYA Biosciences by 677.3% in the second quarter. Tower Research Capital LLC TRC now owns 9,538 shares of the company’s stock worth $200,000 after acquiring an additional 8,311 shares during the last quarter. Finally, E Fund Management Co. Ltd. lifted its holdings in IDEAYA Biosciences by 7.8% in the second quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company’s stock worth $257,000 after acquiring an additional 881 shares during the last quarter. 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.