IDEAYA Biosciences (NASDAQ:IDYA) Given “Outperform” Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report report published on Tuesday,Benzinga reports. Wedbush currently has a $52.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Leerink Partnrs lowered IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald started coverage on shares of IDEAYA Biosciences in a research report on Tuesday, October 15th. They issued an “overweight” rating for the company. Stifel Nicolaus increased their price target on IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Oppenheimer restated an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Finally, Citigroup decreased their target price on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Two investment 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. Based on data from MarketBeat.com, IDEAYA Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $26.33 on Tuesday. IDEAYA Biosciences has a fifty-two week low of $24.72 and a fifty-two week high of $47.74. The business’s 50-day simple moving average is $28.57 and its two-hundred day simple moving average is $34.23. The company has a market cap of $2.28 billion, a PE ratio of -11.30 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same quarter in the previous year, the business earned ($0.46) earnings per share. As a group, analysts predict that IDEAYA Biosciences will post -2.45 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted 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 worth $105,112,000 after buying an additional 443,640 shares during the period. Nisa Investment Advisors LLC lifted its stake in IDEAYA Biosciences by 38.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after acquiring an additional 927 shares in the last quarter. Quest Partners LLC purchased a new position in IDEAYA Biosciences during the 2nd quarter valued at about $41,000. Scientech Research LLC grew its position in IDEAYA Biosciences by 362.3% in the 2nd quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock valued at $973,000 after acquiring an additional 21,714 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in IDEAYA Biosciences by 34.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company’s stock worth $31,056,000 after purchasing an additional 226,514 shares during the period. 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.