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

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a note issued to investors on Tuesday,Benzinga reports. They presently have a $52.00 price objective on the stock. Wedbush’s price target points to a potential upside of 103.20% from the stock’s previous close.

Several other research firms have also issued reports on IDYA. Oppenheimer reaffirmed an “outperform” rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Citigroup dropped their target price on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Leerink Partners downgraded shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $25.59 on Tuesday. IDEAYA Biosciences has a fifty-two week low of $24.72 and a fifty-two week high of $47.74. The firm’s 50-day simple moving average is $28.49 and its two-hundred day simple moving average is $34.17. The stock has a market cap of $2.21 billion, a PE ratio of -10.98 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same period in the prior year, the business posted ($0.46) EPS. Equities research analysts predict that IDEAYA Biosciences will post -2.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in shares of IDEAYA Biosciences by 12.1% during the 3rd quarter. FMR LLC now owns 12,635,653 shares of the company’s stock valued at $400,297,000 after purchasing an additional 1,365,570 shares during the last quarter. Janus Henderson Group PLC grew its position in 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 buying an additional 1,086,356 shares during the period. State Street Corp grew its position in 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 buying an additional 443,640 shares during the period. Geode Capital Management LLC increased its holdings in IDEAYA Biosciences by 9.8% during the third quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company’s stock valued at $61,645,000 after buying an additional 172,838 shares during the last quarter. Finally, Logos Global Management LP raised 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 acquiring 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.