IDEAYA Biosciences (NASDAQ:IDYA) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note published on Wednesday,Benzinga reports. The firm currently has a $61.00 price target on the stock.

A number of other equities research analysts have also recently commented on the company. Oppenheimer reissued an “outperform” rating and set a $53.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Leerink Partnrs cut IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday. Wedbush reiterated an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Finally, Stephens assumed coverage on shares of IDEAYA Biosciences in a research note on Monday, November 18th. They set an “overweight” rating and a $51.00 price target for the company. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Stock Up 2.3 %

NASDAQ IDYA opened at $23.26 on Wednesday. The stock’s 50-day moving average price is $26.61 and its 200-day moving average price is $32.47. The company has a market capitalization of $2.01 billion, a P/E ratio of -9.98 and a beta of 0.82. IDEAYA Biosciences has a 52 week low of $22.17 and a 52 week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the prior year, the firm posted ($0.46) EPS. Research analysts anticipate that IDEAYA Biosciences will post -2.45 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in IDEAYA Biosciences by 15.4% in 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 last quarter. Quest Partners LLC purchased a new position in shares of IDEAYA Biosciences in the 2nd quarter valued at approximately $41,000. Scientech Research LLC boosted its stake in IDEAYA Biosciences by 362.3% in the 2nd quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock worth $973,000 after purchasing an additional 21,714 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in IDEAYA Biosciences by 34.4% during the 2nd 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 last quarter. Finally, Envestnet Asset Management Inc. increased its stake in IDEAYA Biosciences by 24.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 104,553 shares of the company’s stock valued at $3,671,000 after purchasing an additional 20,607 shares in the last quarter. 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.