IDEAYA Biosciences (NASDAQ:IDYA) Coverage Initiated at Stephens

Stock analysts at Stephens started coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report issued on Monday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $51.00 price target on the stock. Stephens’ target price would indicate a potential upside of 97.22% from the company’s current price.

IDYA has been the subject of a number of other research reports. Cantor Fitzgerald assumed coverage on shares of IDEAYA Biosciences in a research report on Tuesday, October 15th. They set an “overweight” rating for the company. JPMorgan Chase & Co. lowered their target price on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. UBS Group began coverage on shares of IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Lifesci Capital raised shares of IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $25.86 on Monday. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -11.10 and a beta of 0.86. IDEAYA Biosciences has a fifty-two week low of $25.62 and a fifty-two week high of $47.74. The firm has a fifty day moving average price of $31.00 and a two-hundred day moving average price of $36.08.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter last year, the business posted ($0.46) EPS. As a group, sell-side analysts expect that IDEAYA Biosciences will post -2.46 earnings per share for the current year.

Institutional Trading of IDEAYA Biosciences

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in shares of IDEAYA Biosciences by 38.4% during the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock valued at $117,000 after purchasing an additional 927 shares during the last quarter. Quest Partners LLC bought a new stake in shares of IDEAYA Biosciences during the second quarter valued at approximately $41,000. Price T Rowe Associates Inc. MD grew its stake in shares of IDEAYA Biosciences by 13.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock valued at $177,825,000 after purchasing an additional 486,222 shares during the last quarter. Scientech Research LLC grew its stake in shares of IDEAYA Biosciences by 362.3% during the second quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock valued at $973,000 after purchasing an additional 21,714 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in IDEAYA Biosciences in the first quarter valued at approximately $1,431,000. 98.29% of the stock is owned by 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.