Stephens Reaffirms Overweight Rating for IDEAYA Biosciences (NASDAQ:IDYA)

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a report released on Tuesday,Benzinga reports. They presently have a $45.00 price target on the stock. Stephens’ price objective points to a potential upside of 92.39% from the stock’s current price.

A number of other equities analysts have also commented on IDYA. Citigroup assumed coverage on IDEAYA Biosciences in a research note on Thursday. They issued an “outperform” rating on the stock. Wells Fargo & Company assumed coverage on IDEAYA Biosciences in a research note on Thursday, June 26th. They issued an “overweight” rating and a $44.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on IDEAYA Biosciences from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. The Goldman Sachs Group raised IDEAYA Biosciences to a “hold” rating and set a $25.00 price objective on the stock in a research note on Thursday, July 10th. Finally, JMP Securities started coverage on IDEAYA Biosciences in a research note on Thursday. They issued a “market outperform” rating and a $41.00 price target on the stock. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average price target of $45.38.

IDEAYA Biosciences Trading Down 13.9%

Shares of IDYA stock opened at $23.39 on Tuesday. The business’s 50-day moving average price is $23.71 and its 200-day moving average price is $20.64. IDEAYA Biosciences has a 12 month low of $13.45 and a 12 month high of $37.80. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -6.17 and a beta of 0.12.

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

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in IDEAYA Biosciences by 13.5% during the fourth quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company’s stock worth $150,606,000 after buying an additional 695,263 shares in the last quarter. Vanguard Group Inc. grew its holdings in IDEAYA Biosciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,092,619 shares of the company’s stock worth $83,417,000 after buying an additional 14,535 shares in the last quarter. Geode Capital Management LLC grew its holdings in IDEAYA Biosciences by 1.6% during the second quarter. Geode Capital Management LLC now owns 2,113,164 shares of the company’s stock worth $44,424,000 after buying an additional 33,286 shares in the last quarter. Fiera Capital Corp grew its holdings in IDEAYA Biosciences by 26.6% during the second quarter. Fiera Capital Corp now owns 1,532,269 shares of the company’s stock worth $32,208,000 after buying an additional 322,404 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in IDEAYA Biosciences by 4.2% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,238,094 shares of the company’s stock worth $26,025,000 after buying an additional 50,000 shares in the last quarter. Institutional investors 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.