IDEAYA Biosciences' (IDYA) "Outperform" Rating Reaffirmed at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA - Free Report) in a research note released on Tuesday morning, Benzinga reports. The firm currently has a $53.00 target price on the stock.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reissued an "outperform" rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Lifesci Capital raised IDEAYA Biosciences to a "strong-buy" rating in a research note on Monday, July 29th. BTIG Research increased their price target on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, July 9th. Finally, UBS Group initiated coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They set a "buy" rating and a $50.00 price target for the company. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $55.45.

IDEAYA Biosciences Stock Performance

Shares of IDYA traded down $0.15 during mid-day trading on Tuesday, hitting $29.86. 408,046 shares of the company were exchanged, compared to its average volume of 851,803. IDEAYA Biosciences has a 1-year low of $25.22 and a 1-year high of $47.74. The company has a 50 day moving average of $33.97 and a 200-day moving average of $37.29. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -14.73 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.14). During the same period in the previous year, the business posted ($0.50) EPS. Research analysts anticipate that IDEAYA Biosciences will post -2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its position in IDEAYA Biosciences by 800.0% in the 3rd quarter. Allworth Financial LP now owns 900 shares of the company's stock valued at $29,000 after purchasing an additional 800 shares in the last quarter. Quest Partners LLC acquired a new stake in IDEAYA Biosciences in the 2nd quarter valued at about $41,000. Covestor Ltd raised its position in IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company's stock valued at $49,000 after purchasing an additional 1,107 shares in the last quarter. US Bancorp DE raised its position in IDEAYA Biosciences by 67.2% in the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company's stock valued at $54,000 after purchasing an additional 689 shares in the last quarter. Finally, Comerica Bank raised its position in IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company's stock valued at $66,000 after purchasing an additional 1,324 shares in the last quarter. Institutional investors and hedge funds 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.