IDEAYA Biosciences (NASDAQ:IDYA) Receives New Coverage from Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA – Get Rating) in a report released on Wednesday morning, The Fly reports. The brokerage issued a buy rating and a $32.00 price target on the stock.

IDYA has been the topic of a number of other research reports. Wedbush upped their target price on IDEAYA Biosciences from $30.00 to $35.00 in a report on Monday, April 24th. Stifel Nicolaus raised IDEAYA Biosciences from a hold rating to a buy rating and increased their price objective for the company from $18.00 to $24.00 in a research report on Monday, April 24th. TheStreet raised IDEAYA Biosciences from a d+ rating to a c rating in a research report on Monday, May 15th. Royal Bank of Canada reissued an outperform rating and issued a $25.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, March 8th. Finally, Oppenheimer raised their target price on IDEAYA Biosciences from $26.00 to $30.00 in a research report on Monday, April 24th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of Buy and an average target price of $29.40.

IDEAYA Biosciences Trading Up 3.2 %

IDYA stock opened at $22.61 on Wednesday. IDEAYA Biosciences has a one year low of $9.00 and a one year high of $23.08. The firm has a market capitalization of $1.30 billion, a PE ratio of -14.88 and a beta of 0.85. The firm has a 50-day moving average of $17.12 and a two-hundred day moving average of $17.25.

IDEAYA Biosciences (NASDAQ:IDYA – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.03. IDEAYA Biosciences had a negative net margin of 143.90% and a negative return on equity of 20.67%. The company had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.38 million. The firm’s quarterly revenue was up 97.5% compared to the same quarter last year. On average, equities research analysts anticipate that IDEAYA Biosciences will post -2.02 earnings per share for the current year.

Institutional Trading of IDEAYA Biosciences

Several institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd lifted its holdings in IDEAYA Biosciences by 363.7% during the 1st quarter. Point72 Hong Kong Ltd now owns 3,376 shares of the company’s stock valued at $38,000 after purchasing an additional 2,648 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in IDEAYA Biosciences by 66.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,847 shares of the company’s stock valued at $39,000 after purchasing an additional 1,136 shares during the last quarter. Quantbot Technologies LP lifted its holdings in IDEAYA Biosciences by 90.5% during the 1st quarter. Quantbot Technologies LP now owns 4,000 shares of the company’s stock valued at $44,000 after purchasing an additional 1,900 shares during the last quarter. Point72 Asset Management L.P. bought a new position in IDEAYA Biosciences during the 4th quarter valued at about $49,000. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in IDEAYA Biosciences by 39.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,743 shares of the company’s stock valued at $50,000 after purchasing an additional 774 shares during 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.