Oppenheimer Reiterates “Outperform” Rating for IDEAYA Biosciences (NASDAQ:IDYA)

Oppenheimer reissued their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a report published on Tuesday, Benzinga reports. The firm currently has a $53.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. UBS Group started coverage on shares of IDEAYA Biosciences in a research report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price target for the company. Stifel Nicolaus boosted their price objective 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. BTIG Research raised their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. cut their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Finally, Cantor Fitzgerald started coverage on IDEAYA Biosciences in a research note on Tuesday, October 15th. They issued an “overweight” rating for the company. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $55.45.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock opened at $28.15 on Tuesday. IDEAYA Biosciences has a twelve month low of $25.54 and a twelve month high of $47.74. The stock’s fifty day simple moving average is $33.37 and its 200 day simple moving average is $37.08.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results 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 company posted ($0.50) earnings per share. On average, equities analysts anticipate that IDEAYA Biosciences will post -2.47 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Several large investors have recently modified their holdings of IDYA. General American Investors Co. Inc. acquired a new position in shares of IDEAYA Biosciences during the 3rd quarter valued at $2,851,000. Amalgamated Bank increased its stake in IDEAYA Biosciences by 22.9% in the third quarter. Amalgamated Bank now owns 2,840 shares of the company’s stock valued at $90,000 after purchasing an additional 530 shares in the last quarter. US Bancorp DE increased its stake in IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after purchasing an additional 689 shares in the last quarter. Palumbo Wealth Management LLC acquired a new position in shares of IDEAYA Biosciences during the third quarter valued at about $223,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of IDEAYA Biosciences by 82.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,249 shares of the company’s stock worth $515,000 after purchasing an additional 7,356 shares in 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.