Stephens Reiterates Overweight Rating for IDEAYA Biosciences (NASDAQ:IDYA)

Stephens reaffirmed their overweight rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report report published on Friday morning,Benzinga reports. They currently have a $50.00 price target on the stock.

Several other equities analysts have also issued reports on IDYA. Leerink Partners lowered IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. UBS Group started coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Oppenheimer reiterated an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.58.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $21.00 on Friday. IDEAYA Biosciences has a 1 year low of $20.63 and a 1 year high of $47.74. The business has a 50-day moving average of $24.49 and a 200-day moving average of $30.11.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, February 18th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.82). On average, analysts anticipate that IDEAYA Biosciences will post -2.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd raised its stake in shares of IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after purchasing an additional 922 shares in the last quarter. Allworth Financial LP raised its stake in shares of IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 800 shares in the last quarter. R Squared Ltd bought a new stake in shares of IDEAYA Biosciences during the 4th quarter worth approximately $35,000. US Bancorp DE raised its stake in shares of IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after purchasing an additional 689 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of IDEAYA Biosciences by 29.1% during the 3rd quarter. KBC Group NV now owns 2,274 shares of the company’s stock worth $72,000 after purchasing an additional 513 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

About IDEAYA Biosciences

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.