IDEAYA Biosciences' (IDYA) "Buy" Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research has reaffirmed a "buy" rating for IDEAYA Biosciences, with a price target of $62.00, indicating a potential upside of 103.21% from the current stock price.
• The consensus rating for IDEAYA Biosciences is a "Moderate Buy" with a consensus target price of $44.60, based on assessments from fifteen investment analysts.
• Recently, several institutional investors have increased their stakes in IDEAYA Biosciences, with 98.29% of the stock now owned by institutional investors.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They presently have a $62.00 price target on the stock. BTIG Research's price objective suggests a potential upside of 103.21% from the company's current price.

IDYA has been the topic of a number of other research reports. Citigroup restated a "buy" rating on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Wells Fargo & Company began coverage on IDEAYA Biosciences in a research note on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price target on the stock. JMP Securities began coverage on IDEAYA Biosciences in a research note on Thursday, September 4th. They set a "market outperform" rating and a $41.00 target price on the stock. TD Cowen began coverage on IDEAYA Biosciences in a research note on Tuesday, July 22nd. They set a "buy" rating on the stock. Finally, Citizens Jmp started coverage on IDEAYA Biosciences in a report on Thursday, September 4th. They set a "mkt outperform" rating and a $41.00 price target on the stock. Fifteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $44.60.

IDEAYA Biosciences Trading Up 4.3%

NASDAQ IDYA opened at $30.51 on Tuesday. IDEAYA Biosciences has a 1-year low of $13.45 and a 1-year high of $32.67. The stock has a 50-day moving average of $25.82 and a 200-day moving average of $22.36. The firm has a market cap of $2.67 billion, a PE ratio of -8.05 and a beta of 0.14.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.03). The firm had revenue of $6.00 million during the quarter, compared to the consensus estimate of $3.48 million. During the same period in the previous year, the business posted ($0.68) earnings per share. The company's revenue was up NaN% compared to the same quarter last year. As a group, equities research analysts forecast that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of IDYA. Millennium Management LLC raised its holdings in IDEAYA Biosciences by 345.2% during the first quarter. Millennium Management LLC now owns 547,637 shares of the company's stock valued at $8,970,000 after acquiring an additional 424,625 shares during the period. Ensign Peak Advisors Inc increased its holdings in shares of IDEAYA Biosciences by 126.4% in the second quarter. Ensign Peak Advisors Inc now owns 741,833 shares of the company's stock worth $15,593,000 after purchasing an additional 414,189 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of IDEAYA Biosciences by 26.6% in the second quarter. Fiera Capital Corp now owns 1,532,269 shares of the company's stock worth $32,208,000 after purchasing an additional 322,404 shares during the last quarter. Algert Global LLC bought a new stake in shares of IDEAYA Biosciences in the first quarter worth about $5,024,000. Finally, Nuveen LLC bought a new stake in shares of IDEAYA Biosciences in the first quarter worth about $4,706,000. 98.29% of the stock is owned by institutional investors.

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.

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