IDEAYA Biosciences’ (IDYA) Overweight Rating Reaffirmed at Stephens

Stephens reaffirmed their overweight rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $45.00 price objective on the stock.

Several other analysts have also recently issued reports on IDYA. The Goldman Sachs Group raised shares of IDEAYA Biosciences to a “hold” rating and set a $25.00 price objective for the company in a research note on Thursday, July 10th. Wells Fargo & Company assumed coverage on shares of IDEAYA Biosciences in a research note on Thursday, June 26th. They set an “overweight” rating and a $44.00 price objective for the company. Barclays assumed coverage on shares of IDEAYA Biosciences in a research note on Thursday, September 4th. They set an “overweight” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of IDEAYA Biosciences from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Finally, Royal Bank Of Canada raised shares of IDEAYA Biosciences from an “outperform” rating to a “moderate buy” rating and dropped their price objective for the company from $57.00 to $30.00 in a research note on Wednesday, July 9th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, IDEAYA Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $42.75.

IDEAYA Biosciences Stock Up 5.8%

IDYA stock opened at $24.74 on Tuesday. IDEAYA Biosciences has a 52 week low of $13.45 and a 52 week high of $37.80. The stock has a market capitalization of $2.17 billion, a P/E ratio of -6.53 and a beta of 0.12. The firm has a 50-day simple moving average of $23.78 and a 200-day simple moving average of $20.67.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.03). The company had revenue of $6.00 million for the quarter, compared to the consensus estimate of $3.48 million. During the same period in the previous year, the company posted ($0.68) earnings per share. The company’s quarterly revenue was up NaN% compared to the same quarter last year. On average, analysts expect that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its holdings in IDEAYA Biosciences by 33.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,560 shares of the company’s stock valued at $189,000 after purchasing an additional 2,884 shares during the last quarter. Rhumbline Advisers boosted its holdings in IDEAYA Biosciences by 9.6% in the 1st quarter. Rhumbline Advisers now owns 124,437 shares of the company’s stock valued at $2,038,000 after purchasing an additional 10,876 shares during the last quarter. Palumbo Wealth Management LLC boosted its holdings in IDEAYA Biosciences by 65.8% in the 1st quarter. Palumbo Wealth Management LLC now owns 22,402 shares of the company’s stock valued at $367,000 after purchasing an additional 8,893 shares during the last quarter. Swiss National Bank lifted its holdings in shares of IDEAYA Biosciences by 0.8% in the 1st quarter. Swiss National Bank now owns 150,800 shares of the company’s stock worth $2,470,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of IDEAYA Biosciences by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,092,619 shares of the company’s stock worth $83,417,000 after acquiring an additional 14,535 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.