Stephens Reaffirms Overweight Rating for IDEAYA Biosciences (NASDAQ:IDYA)

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “overweight” rating reissued by analysts at Stephens in a research note issued to investors on Friday,Benzinga reports. They currently have a $50.00 target price on the stock. Stephens’ target price indicates a potential upside of 138.10% from the stock’s current price.

A number of other research firms have also recently issued reports on IDYA. UBS Group assumed coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Leerink Partners cut IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Two equities research 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’s stock. Based on data from MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average price target of $53.58.

IDEAYA Biosciences Stock Up 1.2 %

Shares of IDYA stock opened at $21.00 on Friday. IDEAYA Biosciences has a 12 month low of $20.63 and a 12 month high of $47.74. The firm has a market cap of $1.82 billion, a PE ratio of -9.01 and a beta of 0.82. The stock has a 50 day moving average of $24.36 and a 200-day moving average of $29.97.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.00 million. As a group, equities analysts predict that IDEAYA Biosciences will post -2.45 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Several large investors have recently made changes to their positions in the business. Aquatic Capital Management LLC grew its holdings in shares of IDEAYA Biosciences by 47.1% during the fourth quarter. Aquatic Capital Management LLC now owns 91,189 shares of the company’s stock worth $2,344,000 after purchasing an additional 29,189 shares during the last quarter. Nebula Research & Development LLC grew its holdings in shares of IDEAYA Biosciences by 6.6% during the fourth quarter. Nebula Research & Development LLC now owns 75,417 shares of the company’s stock worth $1,938,000 after purchasing an additional 4,654 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of IDEAYA Biosciences by 22.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,200,094 shares of the company’s stock worth $30,842,000 after purchasing an additional 220,000 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of IDEAYA Biosciences by 66.6% during the fourth quarter. Hsbc Holdings PLC now owns 38,690 shares of the company’s stock valued at $980,000 after acquiring an additional 15,465 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of IDEAYA Biosciences by 338.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,242 shares of the company’s stock valued at $495,000 after acquiring an additional 14,852 shares during the period. 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.