IDEAYA Biosciences (NASDAQ:IDYA) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The firm issued an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Mizuho began coverage on IDEAYA Biosciences in a report on Monday, July 8th. They issued an outperform rating and a $50.00 price target for the company. BTIG Research increased their price objective on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a buy rating in a report on Tuesday, July 9th. Oppenheimer decreased their price objective on IDEAYA Biosciences from $60.00 to $53.00 and set an outperform rating for the company in a report on Wednesday, August 7th. Citigroup decreased their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a buy rating for the company in a report on Tuesday, August 27th. 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. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $56.00.

IDEAYA Biosciences Stock Up 1.1 %

Shares of IDYA opened at $30.82 on Tuesday. The stock has a 50 day moving average price of $35.32 and a 200 day moving average price of $38.05. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -15.33 and a beta of 0.82. IDEAYA Biosciences has a 52-week low of $23.41 and a 52-week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). During the same quarter in the previous year, the business earned ($0.50) earnings per share. On average, equities analysts anticipate that IDEAYA Biosciences will post -2.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IDYA. Vanguard Group Inc. raised its position in IDEAYA Biosciences by 19.6% in the first quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after acquiring an additional 679,985 shares in the last quarter. Fisher Asset Management LLC raised its position in IDEAYA Biosciences by 1,611.9% in the fourth quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock worth $19,202,000 after acquiring an additional 508,151 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in IDEAYA Biosciences by 13.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock worth $177,825,000 after acquiring an additional 486,222 shares in the last quarter. Sofinnova Investments Inc. raised its position in IDEAYA Biosciences by 47.3% in the second quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company’s stock worth $40,430,000 after acquiring an additional 369,932 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in IDEAYA Biosciences by 7.2% in the first quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock worth $167,104,000 after acquiring an additional 256,559 shares in the last quarter. Hedge funds and other 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.