IDEAYA Biosciences (NASDAQ:IDYA) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note released on Monday morning,Benzinga reports.

Other equities analysts also recently issued research reports about the stock. Leerink Partnrs downgraded shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Oppenheimer reaffirmed an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $41.00 to $27.00 in a report on Tuesday, November 5th. Finally, UBS Group assumed coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 target price for the company. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Stock Performance

IDYA opened at $22.97 on Monday. The company has a market capitalization of $1.99 billion, a P/E ratio of -9.86 and a beta of 0.82. The company has a 50-day moving average of $26.75 and a 200-day moving average of $32.56. IDEAYA Biosciences has a 1-year low of $22.33 and a 1-year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period in the prior year, the business earned ($0.46) earnings per share. As a group, sell-side analysts expect that IDEAYA Biosciences will post -2.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IDYA. Allworth Financial LP grew its position in 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 in the last quarter. Covestor Ltd boosted its position in shares of IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after buying an additional 922 shares during the period. Quest Partners LLC purchased a new position in shares of IDEAYA Biosciences during the second quarter valued at $41,000. US Bancorp DE raised its position in IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after buying an additional 689 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in IDEAYA Biosciences by 637.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after acquiring an additional 1,684 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.