IDEAYA Biosciences (NASDAQ:IDYA) Coverage Initiated at Barclays

Stock analysts at Barclays began coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $40.00 price target on the stock. Barclays‘s price target would indicate a potential upside of 47.28% from the stock’s current price.

Several other research analysts also recently commented on the company. The Goldman Sachs Group raised IDEAYA Biosciences to a “hold” rating and set a $25.00 target price on the stock in a report on Thursday, July 10th. JMP Securities started coverage on IDEAYA Biosciences in a research report on Thursday. They issued a “market outperform” rating and a $41.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on IDEAYA Biosciences from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen started coverage on IDEAYA Biosciences in a research report on Tuesday, July 22nd. They issued a “buy” rating for the company. Finally, Wells Fargo & Company started coverage on IDEAYA Biosciences in a research report on Thursday, June 26th. They issued an “overweight” rating and a $44.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.77.

IDEAYA Biosciences Trading Up 5.1%

Shares of IDYA opened at $27.16 on Thursday. The company has a market capitalization of $2.38 billion, a PE ratio of -7.17 and a beta of 0.12. IDEAYA Biosciences has a 12 month low of $13.45 and a 12 month high of $37.99. The stock’s 50-day moving average price is $23.66 and its two-hundred day moving average price is $20.64.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, August 5th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.03). The business had revenue of $6.00 million during the quarter, compared to analysts’ expectations of $3.48 million. The company’s revenue for the quarter was up NaN% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.68) earnings per share. Equities research analysts predict that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDYA. Janus Henderson Group PLC increased its position in IDEAYA Biosciences by 13.5% in the 4th quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company’s stock valued at $150,606,000 after buying an additional 695,263 shares in the last quarter. Millennium Management LLC increased its position in IDEAYA Biosciences by 345.2% in the 1st quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock valued at $8,970,000 after buying an additional 424,625 shares in the last quarter. Ensign Peak Advisors Inc increased its position in IDEAYA Biosciences by 126.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 741,833 shares of the company’s stock valued at $15,593,000 after buying an additional 414,189 shares in the last quarter. MPM Bioimpact LLC bought a new stake in IDEAYA Biosciences in the 4th quarter valued at about $10,641,000. Finally, Fiera Capital Corp increased its holdings in IDEAYA Biosciences by 26.6% during the 2nd quarter. Fiera Capital Corp now owns 1,532,269 shares of the company’s stock worth $32,208,000 after purchasing an additional 322,404 shares in the last quarter. 98.29% of the stock is owned by institutional investors.

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.