IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $26.00 at Oppenheimer

IDEAYA Biosciences (NASDAQ:IDYAGet Rating) had its price target increased by Oppenheimer from $22.00 to $26.00 in a research report report published on Monday, The Fly reports.

A number of other equities analysts have also weighed in on IDYA. Wedbush lifted their price objective on IDEAYA Biosciences to $30.00 in a research note on Wednesday, December 14th. Robert W. Baird lifted their price objective on IDEAYA Biosciences from $18.00 to $24.00 and gave the company an outperform rating in a research note on Friday, November 18th. Citigroup initiated coverage on IDEAYA Biosciences in a research note on Thursday, October 27th. They set a buy rating and a $26.00 price objective for the company. Finally, Capital One Financial initiated coverage on IDEAYA Biosciences in a research note on Wednesday, December 28th. They set an overweight rating and a $29.00 price objective for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $28.25.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $16.37 on Monday. The firm has a market capitalization of $787.61 million, a price-to-earnings ratio of -12.04 and a beta of 0.96. The business has a fifty day moving average of $17.46 and a 200 day moving average of $15.21. IDEAYA Biosciences has a 1 year low of $8.14 and a 1 year high of $19.14.

IDEAYA Biosciences (NASDAQ:IDYAGet Rating) last issued its earnings results on Tuesday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.69. The company had revenue of $29.70 million during the quarter, compared to analyst estimates of $8.00 million. IDEAYA Biosciences had a negative return on equity of 17.15% and a negative net margin of 105.60%. As a group, equities research analysts expect that IDEAYA Biosciences will post -1.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IDYA. JPMorgan Chase & Co. raised its position in IDEAYA Biosciences by 5.0% in the second quarter. JPMorgan Chase & Co. now owns 21,055 shares of the company’s stock valued at $291,000 after purchasing an additional 997 shares during the period. Nisa Investment Advisors LLC purchased a new position in IDEAYA Biosciences in the second quarter valued at about $25,000. Rhumbline Advisers increased its holdings in IDEAYA Biosciences by 4.8% in the first quarter. Rhumbline Advisers now owns 39,982 shares of the company’s stock valued at $447,000 after buying an additional 1,835 shares in the last quarter. AXA S.A. increased its holdings in IDEAYA Biosciences by 0.4% in the third quarter. AXA S.A. now owns 429,118 shares of the company’s stock valued at $6,402,000 after buying an additional 1,870 shares in the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in IDEAYA Biosciences by 26.4% in the second quarter. Virtus ETF Advisers LLC now owns 9,088 shares of the company’s stock valued at $125,000 after buying an additional 1,896 shares in the last quarter. 94.20% of the stock is currently owned by institutional investors and hedge funds.

About IDEAYA Biosciences

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IDEAYA Biosciences, Inc engages in the research and development of oncology-focused precision medicine. The firm focuses on the targeted therapeutics for patients selected using molecular diagnostics. Its product candidate, IDE196, is a protein kinase C inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.

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