UBS Group Begins Coverage on IDEAYA Biosciences (NASDAQ:IDYA)

UBS Group started coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a report released on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $50.00 price objective on the stock.

Several other equities research analysts also recently commented on IDYA. Wedbush cut their price objective on IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, September 24th. BTIG Research lifted their price objective on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Oppenheimer cut their target price on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Mizuho initiated coverage on IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 target price for the company. Fourteen 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.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $55.45.

IDEAYA Biosciences Trading Up 0.3 %

Shares of NASDAQ IDYA opened at $29.30 on Thursday. The company has a fifty day moving average price of $34.15 and a 200 day moving average price of $37.42. The firm has a market cap of $2.48 billion, a PE ratio of -13.38 and a beta of 0.82. IDEAYA Biosciences has a 1-year low of $25.22 and a 1-year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data 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 prior year, the business posted ($0.50) EPS. Equities research analysts forecast that IDEAYA Biosciences will post -2.48 EPS for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of IDEAYA Biosciences by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after buying an additional 679,985 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 during the last quarter. Janus Henderson Group PLC boosted its stake in shares of IDEAYA Biosciences by 7.2% in the 1st quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock valued at $167,104,000 after purchasing an additional 256,559 shares in the last quarter. Logos Global Management LP grew its holdings in shares of IDEAYA Biosciences by 13.3% during the 2nd quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock valued at $59,687,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Fiera Capital Corp increased its position in IDEAYA Biosciences by 22.6% during the 2nd quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock worth $46,886,000 after purchasing an additional 246,010 shares in the last quarter. 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.