IDEAYA Biosciences (NASDAQ:IDYA) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report sent to investors on Tuesday morning,Benzinga reports.

Several other research firms have also recently issued reports on IDYA. Barclays assumed coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They issued an “overweight” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of IDEAYA Biosciences from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Citigroup assumed coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They issued an “outperform” rating on the stock. JMP Securities started coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They issued a “market outperform” rating and a $41.00 price target on the stock. Finally, Citizens Jmp started coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They set a “mkt outperform” rating and a $41.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.75.

IDEAYA Biosciences Price Performance

IDYA opened at $24.74 on Tuesday. The stock has a market capitalization of $2.17 billion, a PE ratio of -6.53 and a beta of 0.12. The firm’s fifty day moving average price is $23.78 and its 200 day moving average price is $20.67. IDEAYA Biosciences has a 12-month low of $13.45 and a 12-month high of $37.80.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results 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 analysts’ expectations of $3.48 million. IDEAYA Biosciences’s quarterly revenue was up NaN% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.68) earnings per share. On average, equities research analysts forecast that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of IDYA. CWM LLC raised its holdings in shares of IDEAYA Biosciences by 325.7% during the first quarter. CWM LLC now owns 2,371 shares of the company’s stock worth $39,000 after purchasing an additional 1,814 shares during the period. PNC Financial Services Group Inc. grew its position in shares of IDEAYA Biosciences by 180.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company’s stock worth $39,000 after acquiring an additional 1,546 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of IDEAYA Biosciences during the fourth quarter worth about $47,000. Signaturefd LLC grew its position in shares of IDEAYA Biosciences by 374.8% during the first quarter. Signaturefd LLC now owns 2,877 shares of the company’s stock worth $47,000 after acquiring an additional 2,271 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of IDEAYA Biosciences during the second quarter worth about $61,000. 98.29% of the stock is owned by institutional investors and hedge funds.

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.