IDEAYA Biosciences (NASDAQ:IDYA) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA - Free Report) in a research report released on Tuesday, MarketBeat reports. The brokerage issued an overweight rating on the stock.

A number of other research analysts also recently issued reports on IDYA. Royal Bank of Canada restated an outperform rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their target price on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an overweight rating on the stock in a report on Thursday, August 8th. Lifesci Capital upgraded shares of IDEAYA Biosciences to a strong-buy rating in a research note on Monday, July 29th. Stifel Nicolaus upped their price objective on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a buy rating in a report on Tuesday, September 10th. Finally, Oppenheimer reduced their target price on IDEAYA Biosciences from $60.00 to $53.00 and set an outperform rating for the company in a research note on Wednesday, August 7th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $56.00.

IDEAYA Biosciences Stock Up 1.1 %

IDYA traded up $0.35 during midday trading on Tuesday, hitting $30.82. 567,008 shares of the company were exchanged, compared to its average volume of 859,268. The firm's 50 day moving average price is $35.42 and its 200-day moving average price is $38.15. IDEAYA Biosciences has a 1-year low of $23.41 and a 1-year high of $47.74. The firm has a market capitalization of $2.33 billion, a P/E ratio of -15.33 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.14). During the same period in the prior year, the business earned ($0.50) earnings per share. On average, sell-side analysts predict that IDEAYA Biosciences will post -2.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently modified their holdings of IDYA. Ameritas Investment Partners Inc. boosted its stake in IDEAYA Biosciences by 5.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company's stock worth $288,000 after acquiring an additional 332 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of IDEAYA Biosciences by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 15,275 shares of the company's stock worth $670,000 after purchasing an additional 648 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of IDEAYA Biosciences by 38.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company's stock worth $117,000 after purchasing an additional 927 shares in the last quarter. Covestor Ltd grew its stake in shares of IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company's stock worth $49,000 after buying an additional 1,107 shares during the last quarter. Finally, Quest Partners LLC bought a new position in IDEAYA Biosciences during the 2nd quarter valued at approximately $41,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.