IDEAYA Biosciences' (IDYA) "Overweight" Rating Reiterated at Cantor Fitzgerald

Key Points

• IDEAYA Biosciences' stock was given an "overweight" rating by Cantor Fitzgerald, reaffirming investor confidence in the company's prospects.
• The average rating for IDEAYA's stock is a "Moderate Buy," with a consensus target price of $45.38, following multiple analysts issuing positive ratings.
• IDEAYA reported a quarterly loss of ($0.88) EPS, missing estimates, but exceeded revenue expectations with $6.00 million for the quarter.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Cantor Fitzgerald in a note issued to investors on Tuesday,Benzinga reports.

Several other research analysts have also recently issued reports on IDYA. TD Cowen started coverage on shares of IDEAYA Biosciences in a report on Tuesday, July 22nd. They issued a "buy" rating on the stock. Citigroup assumed coverage on shares of IDEAYA Biosciences in a report on Thursday. They issued an "outperform" rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of IDEAYA Biosciences from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Wells Fargo & Company assumed coverage on shares of IDEAYA Biosciences in a report on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price target on the stock. Finally, The Goldman Sachs Group upgraded shares of IDEAYA Biosciences to a "hold" rating and set a $25.00 price target on the stock in a report on Thursday, July 10th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.38.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA opened at $23.39 on Tuesday. IDEAYA Biosciences has a one year low of $13.45 and a one year high of $37.80. The firm's 50 day simple moving average is $23.71 and its two-hundred day simple moving average is $20.64. The stock has a market capitalization of $2.05 billion, a P/E ratio of -6.17 and a beta of 0.12.

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

Institutional Investors Weigh In On IDEAYA Biosciences

Several large investors have recently bought and sold shares of IDYA. Ameriprise Financial Inc. grew its stake in shares of IDEAYA Biosciences by 3.6% during the 4th quarter. Ameriprise Financial Inc. now owns 288,002 shares of the company's stock valued at $7,401,000 after purchasing an additional 10,072 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of IDEAYA Biosciences by 37.5% during the 4th quarter. BNP Paribas Financial Markets now owns 38,692 shares of the company's stock worth $994,000 after acquiring an additional 10,543 shares in the last quarter. Bank of America Corp DE increased its position in shares of IDEAYA Biosciences by 5.9% during the 4th quarter. Bank of America Corp DE now owns 747,934 shares of the company's stock valued at $19,222,000 after purchasing an additional 41,390 shares during the last quarter. Deutsche Bank AG increased its position in shares of IDEAYA Biosciences by 6.9% during the 4th quarter. Deutsche Bank AG now owns 372,979 shares of the company's stock valued at $9,586,000 after purchasing an additional 24,205 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of IDEAYA Biosciences by 13.5% during the 4th quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company's stock valued at $150,606,000 after purchasing an additional 695,263 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors.

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.

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