IDEAYA Biosciences’ (IDYA) Outperform Rating Reiterated at Wedbush

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

IDYA has been the subject of several other reports. Cantor Fitzgerald started coverage on shares of IDEAYA Biosciences in a research note on Tuesday, October 15th. They set an “overweight” rating for the company. Stifel Nicolaus raised their price objective on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. UBS Group started coverage on shares of IDEAYA Biosciences in a research note on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective for the company. Citigroup reduced 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. Finally, Stephens began coverage on IDEAYA Biosciences in a research note on Monday, November 18th. They issued an “overweight” rating and a $51.00 target price for the company. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Performance

IDYA stock opened at $24.79 on Tuesday. IDEAYA Biosciences has a one year low of $24.48 and a one year high of $47.74. The stock has a market capitalization of $2.14 billion, a P/E ratio of -10.64 and a beta of 0.79. The company has a 50 day moving average price of $28.38 and a two-hundred day moving average price of $34.10.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same period last year, the business earned ($0.46) earnings per share. Research analysts forecast that IDEAYA Biosciences will post -2.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in IDEAYA Biosciences by 12.1% during the 3rd quarter. FMR LLC now owns 12,635,653 shares of the company’s stock worth $400,297,000 after buying an additional 1,365,570 shares during the last quarter. RA Capital Management L.P. acquired a new stake in shares of IDEAYA Biosciences during the 3rd quarter valued at approximately $42,681,000. Janus Henderson Group PLC lifted its stake 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 worth $163,518,000 after purchasing an additional 1,086,356 shares during the last quarter. Jennison Associates LLC lifted its stake in IDEAYA Biosciences by 136.6% during the third quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock worth $30,801,000 after purchasing an additional 561,404 shares during the last quarter. Finally, State Street Corp boosted its holdings in IDEAYA Biosciences by 15.4% in the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after purchasing an additional 443,640 shares during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.