IDEAYA Biosciences (NASDAQ:IDYA) Earns Overweight Rating from Analysts at Stephens

Equities researchers at Stephens initiated coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) in a research note issued to investors on Monday, Marketbeat reports. The firm set an "overweight" rating and a $51.00 price target on the stock. Stephens' target price suggests a potential upside of 94.73% from the stock's current price.

Several other brokerages have also issued reports on IDYA. Citigroup cut their target price on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Tuesday, August 27th. Wedbush restated an "outperform" rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research note on Monday, November 4th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Leerink Partners lowered IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $41.00 to $27.00 in a report on Tuesday, November 5th. Finally, Oppenheimer restated an "outperform" rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.67.

IDEAYA Biosciences Stock Down 1.7 %

IDEAYA Biosciences stock traded down $0.45 during trading hours on Monday, reaching $26.19. 1,054,121 shares of the company's stock were exchanged, compared to its average volume of 848,210. The firm has a market capitalization of $2.26 billion, a PE ratio of -11.42 and a beta of 0.86. The firm's 50 day simple moving average is $31.42 and its 200 day simple moving average is $36.30. IDEAYA Biosciences has a twelve month low of $25.62 and a twelve month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, topping analysts' consensus estimates of ($0.63) by $0.03. During the same period in the prior year, the company earned ($0.46) earnings per share. Analysts anticipate that IDEAYA Biosciences will post -2.46 EPS for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in IDEAYA Biosciences by 38.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company's stock valued at $117,000 after purchasing an additional 927 shares during the period. Quest Partners LLC bought a new position in IDEAYA Biosciences during the second quarter valued at about $41,000. Price T Rowe Associates Inc. MD increased its holdings in IDEAYA Biosciences by 13.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company's stock worth $177,825,000 after buying an additional 486,222 shares during the last quarter. Scientech Research LLC raised its position in IDEAYA Biosciences by 362.3% in the second quarter. Scientech Research LLC now owns 27,708 shares of the company's stock worth $973,000 after acquiring an additional 21,714 shares during the period. Finally, Orion Portfolio Solutions LLC purchased a new position in IDEAYA Biosciences in the first quarter valued at about $1,431,000. 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.