IDEAYA Biosciences (NASDAQ:IDYA) Receives “Overweight” Rating from Cantor Fitzgerald

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research report issued on Monday,Benzinga reports.

Several other brokerages have also commented on IDYA. Wedbush restated an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Oppenheimer reissued an “outperform” rating and set a $53.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th. Leerink Partnrs downgraded IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, UBS Group initiated coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA opened at $22.74 on Monday. IDEAYA Biosciences has a one year low of $22.17 and a one year high of $47.74. The business’s 50-day moving average price is $26.61 and its two-hundred day moving average price is $32.47. The company has a market capitalization of $1.97 billion, a P/E ratio of -9.76 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period last year, the business earned ($0.46) EPS. On average, equities analysts anticipate that IDEAYA Biosciences will post -2.45 EPS for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds have recently made changes to their positions in the stock. FMR LLC raised its holdings in IDEAYA Biosciences by 12.1% in the 3rd quarter. FMR LLC now owns 12,635,653 shares of the company’s stock valued at $400,297,000 after acquiring an additional 1,365,570 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of IDEAYA Biosciences by 26.7% during the third quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock valued at $163,518,000 after purchasing an additional 1,086,356 shares during the period. State Street Corp increased its position in shares of IDEAYA Biosciences by 15.4% during the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after purchasing an additional 443,640 shares during the period. Geode Capital Management LLC raised its stake in shares of IDEAYA Biosciences by 9.8% in the third quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company’s stock valued at $61,645,000 after purchasing an additional 172,838 shares in the last quarter. Finally, Logos Global Management LP lifted its position in IDEAYA Biosciences by 13.3% in the second quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock worth $59,687,000 after purchasing an additional 200,000 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.