IDEAYA Biosciences (NASDAQ:IDYA) Given Outperform Rating at Oppenheimer

Oppenheimer reissued their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a $53.00 price objective on the stock.

A number of other research firms have also commented on IDYA. Cantor Fitzgerald began coverage on shares of IDEAYA Biosciences in a research note on Tuesday, October 15th. They issued an “overweight” rating on the stock. Mizuho initiated coverage on IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective for the company. BTIG Research lifted their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Stifel Nicolaus upped their price target on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Wedbush dropped their price objective on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $55.45.

IDEAYA Biosciences Price Performance

Shares of NASDAQ:IDYA opened at $29.86 on Tuesday. IDEAYA Biosciences has a 12 month low of $25.22 and a 12 month high of $47.74. The firm has a market capitalization of $2.26 billion, a P/E ratio of -14.86 and a beta of 0.82. The company’s fifty day moving average price is $33.78 and its 200 day moving average price is $37.20.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). During the same quarter in the prior year, the firm posted ($0.50) earnings per share. On average, sell-side analysts anticipate that IDEAYA Biosciences will post -2.48 EPS for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP raised its position in shares of IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 800 shares during the last quarter. Quest Partners LLC purchased a new position in IDEAYA Biosciences during the second quarter worth $41,000. Covestor Ltd raised its holdings in shares of IDEAYA Biosciences by 9,225.0% in the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after acquiring an additional 1,107 shares during the last quarter. US Bancorp DE lifted its position in shares of IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after acquiring an additional 689 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of IDEAYA Biosciences by 723.5% during the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after acquiring an additional 1,324 shares during the last quarter. 98.29% of the stock is currently owned by hedge funds and other 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.