IDEAYA Biosciences (NASDAQ:IDYA) Receives Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a report issued on Monday morning, RTT News reports. The brokerage currently has a $52.00 price target on the stock.

IDYA has been the subject of several other reports. JPMorgan Chase & Co. lowered their price objective on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Citigroup lowered their target price on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Oppenheimer restated an “outperform” rating and set a $53.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Mizuho initiated coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $53.08.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $30.00 on Monday. The stock’s 50 day moving average is $32.95 and its 200 day moving average is $36.89. IDEAYA Biosciences has a one year low of $27.52 and a one year high of $47.74. The firm has a market cap of $2.53 billion, a P/E ratio of -13.70 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the prior year, the business earned ($0.46) earnings per share. Equities analysts anticipate that IDEAYA Biosciences will post -2.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC bought a new position in shares of IDEAYA Biosciences in the first quarter valued at approximately $11,244,000. SG Americas Securities LLC bought a new position in IDEAYA Biosciences during the 1st quarter valued at $101,000. Oppenheimer & Co. Inc. purchased a new position in IDEAYA Biosciences during the 1st quarter worth $217,000. Oppenheimer Asset Management Inc. bought a new stake in shares of IDEAYA Biosciences in the 1st quarter worth $459,000. Finally, Swiss National Bank raised its holdings in shares of IDEAYA Biosciences by 30.9% in the first quarter. Swiss National Bank now owns 111,400 shares of the company’s stock valued at $4,888,000 after purchasing an additional 26,300 shares during the last quarter. Institutional investors and hedge funds 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.