IDEAYA Biosciences (NASDAQ:IDYA) Now Covered by Guggenheim

Guggenheim started coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report released on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $50.00 target price on the stock.

Several other research analysts have also recently weighed in on IDYA. Wells Fargo & Company began coverage on IDEAYA Biosciences in a research report on Thursday, June 26th. They set an “overweight” rating and a $44.00 price target for the company. Mizuho boosted their target price on shares of IDEAYA Biosciences from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Barclays initiated coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They set an “overweight” rating and a $40.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of IDEAYA Biosciences from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Oppenheimer set a $36.00 target price on IDEAYA Biosciences and gave the company an “outperform” rating in a research report on Monday, September 8th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, IDEAYA Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $43.36.

IDEAYA Biosciences Price Performance

NASDAQ IDYA opened at $26.22 on Thursday. IDEAYA Biosciences has a 1 year low of $13.45 and a 1 year high of $36.70. The company has a market capitalization of $2.30 billion, a PE ratio of -6.92 and a beta of 0.12. The company has a fifty day moving average of $24.17 and a 200 day moving average of $20.88.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.03). The business had revenue of $6.00 million during the quarter, compared to analyst estimates of $3.48 million. The business’s revenue was up NaN% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.68) EPS. Research analysts expect that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in shares of IDEAYA Biosciences in the fourth quarter valued at approximately $47,000. CWM LLC raised its stake in IDEAYA Biosciences by 325.7% in the 1st quarter. CWM LLC now owns 2,371 shares of the company’s stock valued at $39,000 after purchasing an additional 1,814 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in IDEAYA Biosciences by 180.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company’s stock valued at $39,000 after purchasing an additional 1,546 shares in the last quarter. Signaturefd LLC boosted its stake in IDEAYA Biosciences by 374.8% during the 1st quarter. Signaturefd LLC now owns 2,877 shares of the company’s stock worth $47,000 after purchasing an additional 2,271 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of IDEAYA Biosciences during the second quarter worth $61,000. 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.