Stephens Reiterates "Overweight" Rating for IDEAYA Biosciences (NASDAQ:IDYA)

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report)'s stock had its "overweight" rating reissued by Stephens in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $50.00 price target on the stock. Stephens' target price points to a potential upside of 144.62% from the company's previous close.

Several other equities research analysts have also recently commented on the stock. Wedbush reiterated an "outperform" rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Oppenheimer reiterated an "outperform" rating and set a $53.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Leerink Partners lowered IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $41.00 to $27.00 in a research report on Tuesday, November 5th. UBS Group began coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They issued a "buy" rating and a $50.00 price objective for the company. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $53.58.

IDEAYA Biosciences Stock Down 2.7 %

NASDAQ:IDYA traded down $0.56 during trading hours on Friday, hitting $20.44. 1,046,787 shares of the stock were exchanged, compared to its average volume of 887,006. The company has a market capitalization of $1.77 billion, a P/E ratio of -8.77 and a beta of 0.82. The company's 50 day moving average is $24.22 and its two-hundred day moving average is $29.64. IDEAYA Biosciences has a twelve month low of $20.39 and a twelve month high of $47.72.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.00 million. On average, equities research analysts expect that IDEAYA Biosciences will post -2.45 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. KBC Group NV boosted its position in shares of IDEAYA Biosciences by 29.1% in the third quarter. KBC Group NV now owns 2,274 shares of the company's stock valued at $72,000 after acquiring an additional 513 shares during the period. Amalgamated Bank grew its position in shares of IDEAYA Biosciences by 22.9% during the 3rd quarter. Amalgamated Bank now owns 2,840 shares of the company's stock worth $90,000 after purchasing an additional 530 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of IDEAYA Biosciences by 0.5% during the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company's stock worth $2,919,000 after purchasing an additional 585 shares during the period. US Bancorp DE raised its position in shares of IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company's stock valued at $54,000 after buying an additional 689 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of IDEAYA Biosciences by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company's stock valued at $94,000 after buying an additional 796 shares during the period. 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.