Royal Bank of Canada Reaffirms "Outperform" Rating for IDEAYA Biosciences (NASDAQ:IDYA)

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report)'s stock had its "outperform" rating restated by analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They currently have a $61.00 price objective on the stock. Royal Bank of Canada's price objective would indicate a potential upside of 162.25% from the stock's current price.

A number of other equities research analysts have also commented on the stock. Wedbush reaffirmed an "outperform" rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Leerink Partners downgraded IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $41.00 to $27.00 in a report on Tuesday, November 5th. Oppenheimer reissued an "outperform" rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Stephens started coverage on IDEAYA Biosciences in a research report on Monday, November 18th. They set an "overweight" rating and a $51.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of IDEAYA Biosciences in a report on Monday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $53.67.

IDEAYA Biosciences Stock Up 2.3 %

IDYA traded up $0.52 during midday trading on Wednesday, hitting $23.26. 565,199 shares of the company were exchanged, compared to its average volume of 838,687. The firm's 50 day moving average price is $26.61 and its 200-day moving average price is $32.47. IDEAYA Biosciences has a 1-year low of $22.17 and a 1-year high of $47.74. The firm has a market capitalization of $2.01 billion, a P/E ratio of -9.98 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping analysts' consensus estimates of ($0.63) by $0.03. During the same period last year, the business earned ($0.46) earnings per share. On average, sell-side analysts predict that IDEAYA Biosciences will post -2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allworth Financial LP grew its holdings in IDEAYA Biosciences by 800.0% during the third quarter. Allworth Financial LP now owns 900 shares of the company's stock worth $29,000 after buying an additional 800 shares in the last quarter. Covestor Ltd boosted its holdings in IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company's stock worth $29,000 after acquiring an additional 922 shares during the last quarter. Quest Partners LLC purchased a new position in IDEAYA Biosciences during the 2nd quarter worth $41,000. US Bancorp DE grew its stake 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 in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of IDEAYA Biosciences by 637.9% in the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company's stock valued at $68,000 after purchasing an additional 1,684 shares during the last quarter. 98.29% of the stock is 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.