IDEAYA Biosciences’ (IDYA) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $61.00 target price on the stock.

A number of other research analysts have also weighed in on IDYA. Stephens began coverage on shares of IDEAYA Biosciences in a research note on Monday, November 18th. They issued an “overweight” rating and a $51.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Oppenheimer reissued an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Finally, Leerink Partners downgraded shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $41.00 to $27.00 in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $22.18 on Wednesday. IDEAYA Biosciences has a fifty-two week low of $22.10 and a fifty-two week high of $47.74. The business has a 50-day moving average of $26.32 and a 200 day moving average of $32.34. The firm has a market cap of $1.92 billion, a P/E ratio of -9.52 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last issued 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 in the prior year, the business posted ($0.46) EPS. As a group, research analysts predict that IDEAYA Biosciences will post -2.45 earnings per share for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in IDEAYA Biosciences by 15.4% in the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after acquiring an additional 443,640 shares during the last quarter. Quest Partners LLC bought a new position in shares of IDEAYA Biosciences during the 2nd quarter valued at about $41,000. Scientech Research LLC raised its holdings in shares of IDEAYA Biosciences by 362.3% during the 2nd quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock valued at $973,000 after buying an additional 21,714 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of IDEAYA Biosciences by 34.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company’s stock worth $31,056,000 after acquiring an additional 226,514 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of IDEAYA Biosciences by 24.5% during the second quarter. Envestnet Asset Management Inc. now owns 104,553 shares of the company’s stock worth $3,671,000 after acquiring an additional 20,607 shares in the last quarter. Hedge funds and other 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.