Stephens Initiates Coverage on IDEAYA Biosciences (NASDAQ:IDYA)

Stephens assumed coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report released on Monday morning, MarketBeat.com reports. The firm issued an overweight rating and a $51.00 price objective on the stock.

IDYA has been the topic of several other reports. Oppenheimer reissued an “outperform” rating and set a $53.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Stifel Nicolaus raised their price objective on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Cantor Fitzgerald initiated coverage on shares of IDEAYA Biosciences in a research report on Tuesday, October 15th. They set an “overweight” rating for the company. Finally, JPMorgan Chase & Co. decreased their price objective on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, IDEAYA Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Trading Up 4.2 %

Shares of IDYA stock opened at $26.60 on Monday. The firm has a 50-day moving average price of $30.60 and a 200 day moving average price of $35.94. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -11.42 and a beta of 0.86. IDEAYA Biosciences has a twelve month low of $25.20 and a twelve month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same quarter last year, the business posted ($0.46) EPS. As a group, research analysts predict that IDEAYA Biosciences will post -2.46 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of IDEAYA Biosciences in the first quarter worth $101,000. ProShare Advisors LLC increased its stake in IDEAYA Biosciences by 21.1% during the first quarter. ProShare Advisors LLC now owns 17,047 shares of the company’s stock valued at $748,000 after acquiring an additional 2,966 shares during the period. Orion Portfolio Solutions LLC bought a new stake in shares of IDEAYA Biosciences during the first quarter valued at approximately $1,431,000. Vanguard Group Inc. raised its stake in shares of IDEAYA Biosciences by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after buying an additional 679,985 shares in the last quarter. Finally, Covestor Ltd raised its position in IDEAYA Biosciences by 9,225.0% in the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after purchasing an additional 1,107 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.