IDEAYA Biosciences (NASDAQ:IDYA) Coverage Initiated at UBS Group

UBS Group assumed coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a report released on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $50.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Oppenheimer lowered their target price on IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Lifesci Capital raised shares of IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Mizuho assumed coverage on shares of IDEAYA Biosciences in a research report on Monday, July 8th. They set an “outperform” rating and a $50.00 target price for the company. Stifel Nicolaus upped their target price on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Citigroup cut their price target on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IDEAYA Biosciences currently has an average rating of “Buy” and an average price target of $55.45.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $29.30 on Thursday. The stock has a market capitalization of $2.48 billion, a PE ratio of -13.38 and a beta of 0.82. The business’s 50 day simple moving average is $34.15 and its 200 day simple moving average is $37.42. IDEAYA Biosciences has a one year low of $25.22 and a one year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.14). During the same period in the prior year, the business posted ($0.50) EPS. As a group, research analysts expect that IDEAYA Biosciences will post -2.48 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. raised its position in IDEAYA Biosciences by 5.3% in the first quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock worth $288,000 after acquiring an additional 332 shares during the period. Principal Financial Group Inc. raised its holdings in shares of IDEAYA Biosciences by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 15,275 shares of the company’s stock worth $670,000 after purchasing an additional 648 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in IDEAYA Biosciences by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock valued at $94,000 after purchasing an additional 796 shares during the last quarter. Allworth Financial LP grew its holdings in IDEAYA Biosciences by 800.0% during the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after purchasing an additional 800 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in 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 period. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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.