IDEAYA Biosciences’ (IDYA) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note published on Tuesday morning,Benzinga reports. The firm currently has a $62.00 price target on the stock.

Several other brokerages have also recently commented on IDYA. Citizens Jmp started coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They issued a “mkt outperform” rating and a $41.00 target price for the company. Barclays initiated coverage on shares of IDEAYA Biosciences in a research report on Thursday, September 4th. They issued an “overweight” rating and a $40.00 price target for the company. Wells Fargo & Company initiated coverage on shares of IDEAYA Biosciences in a research note on Thursday, June 26th. They issued an “overweight” rating and a $44.00 price objective for the company. Oppenheimer set a $36.00 target price on shares of IDEAYA Biosciences and gave the company an “outperform” rating in a research note on Monday, September 8th. Finally, Citigroup restated a “buy” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Fourteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.13.

IDEAYA Biosciences Stock Down 0.8%

Shares of NASDAQ IDYA opened at $28.42 on Tuesday. The stock’s fifty day simple moving average is $26.10 and its 200 day simple moving average is $22.54. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -7.50 and a beta of 0.14. IDEAYA Biosciences has a 52-week low of $13.45 and a 52-week high of $32.67.

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 firm had revenue of $6.00 million during the quarter, compared to analyst estimates of $3.48 million. The firm’s revenue was up NaN% compared to the same quarter last year. During the same period last year, the company posted ($0.68) earnings per share. As a group, analysts anticipate that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors have recently modified their holdings of IDYA. SG Americas Securities LLC grew its holdings in shares of IDEAYA Biosciences by 169.1% during the 3rd quarter. SG Americas Securities LLC now owns 54,137 shares of the company’s stock valued at $1,473,000 after acquiring an additional 34,020 shares in the last quarter. Park Avenue Securities LLC purchased a new position in IDEAYA Biosciences in the third quarter valued at about $226,000. Osaic Holdings Inc. grew its stake in IDEAYA Biosciences by 59.1% in the second quarter. Osaic Holdings Inc. now owns 7,443 shares of the company’s stock valued at $148,000 after purchasing an additional 2,764 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in IDEAYA Biosciences by 23.6% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 44,625 shares of the company’s stock worth $938,000 after purchasing an additional 8,514 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of IDEAYA Biosciences by 10.2% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 17,416 shares of the company’s stock worth $367,000 after purchasing an additional 1,609 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

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.