IDEAYA Biosciences (NASDAQ:IDYA) Given Outperform Rating at Wedbush

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Monday, RTT News reports. They presently have a $52.00 target price on the stock. Wedbush’s price target would indicate a potential upside of 73.33% from the company’s current price.

Several other brokerages have also recently weighed in on IDYA. BTIG Research boosted their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. UBS Group initiated coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Cantor Fitzgerald assumed coverage on IDEAYA Biosciences in a research report on Tuesday, October 15th. They set an “overweight” rating for the company. Finally, Stifel Nicolaus increased their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $55.45.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock traded up $1.40 during mid-day trading on Monday, reaching $30.00. 1,073,816 shares of the company’s stock traded hands, compared to its average volume of 850,107. IDEAYA Biosciences has a 12 month low of $27.52 and a 12 month high of $47.74. The firm has a market capitalization of $2.53 billion, a PE ratio of -13.70 and a beta of 0.86. The firm has a 50 day moving average price of $32.95 and a two-hundred day moving average price of $36.89.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). During the same period last year, the firm posted ($0.50) earnings per share. As a group, equities analysts expect that IDEAYA Biosciences will post -2.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently modified their holdings of the stock. Entropy Technologies LP bought a new stake in shares of IDEAYA Biosciences during the 1st quarter worth $679,000. Jennison Associates LLC bought a new stake in IDEAYA Biosciences in the first quarter worth $11,244,000. Nisa Investment Advisors LLC increased its holdings in shares of IDEAYA Biosciences by 38.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after purchasing an additional 927 shares in the last quarter. Swiss National Bank raised its stake in IDEAYA Biosciences by 30.9% during the 1st quarter. Swiss National Bank now owns 111,400 shares of the company’s stock valued at $4,888,000 after buying an additional 26,300 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of IDEAYA Biosciences during the 2nd quarter worth $41,000. 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.