IDEAYA Biosciences (NASDAQ:IDYA) Now Covered by Analysts at Citizens Jmp

Key Points

• Citizens Jmp initiated coverage of IDEAYA Biosciences with an "outperform" rating and set a price target of $41.00, indicating a potential upside of 59.16% from the previous close.
• The stock has a current consensus rating of "Moderate Buy" among analysts and an average price target of $45.77.
• IDEAYA reported a loss of ($0.88) EPS for the latest quarter, missing estimates, but exceeded revenue expectations with $6.00 million in revenue.

Analysts at Citizens Jmp initiated coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage set a "mkt outperform" rating and a $41.00 price target on the stock. Citizens Jmp's price target would indicate a potential upside of 65.69% from the stock's current price.

A number of other analysts have also recently issued reports on the company. Wells Fargo & Company initiated coverage on IDEAYA Biosciences in a research note on Thursday, June 26th. They set an "overweight" rating and a $44.00 target price for the company. The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 price target for the company in a research report on Thursday, July 10th. JMP Securities began coverage on IDEAYA Biosciences in a research report on Thursday, September 4th. They set a "market outperform" rating and a $41.00 price target for the company. TD Cowen began coverage on IDEAYA Biosciences in a research report on Tuesday, July 22nd. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. upped their price target on IDEAYA Biosciences from $72.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.00.

IDEAYA Biosciences Price Performance

IDYA stock traded up $1.36 on Thursday, reaching $24.75. 1,341,511 shares of the company were exchanged, compared to its average volume of 1,151,365. IDEAYA Biosciences has a 12 month low of $13.45 and a 12 month high of $37.80. The stock's fifty day moving average price is $23.71 and its 200 day moving average price is $20.64. The firm has a market capitalization of $2.17 billion, a PE ratio of -6.52 and a beta of 0.12.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of IDEAYA Biosciences by 13.5% in the 4th quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company's stock worth $150,606,000 after buying an additional 695,263 shares during the last quarter. Vanguard Group Inc. increased its position in IDEAYA Biosciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,092,619 shares of the company's stock worth $83,417,000 after buying an additional 14,535 shares during the last quarter. Deerfield Management Company L.P. Series C increased its position in IDEAYA Biosciences by 5.5% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 2,736,000 shares of the company's stock worth $70,315,000 after buying an additional 142,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of IDEAYA Biosciences by 1.6% in the second quarter. Geode Capital Management LLC now owns 2,113,164 shares of the company's stock valued at $44,424,000 after buying an additional 33,286 shares during the period. Finally, Fiera Capital Corp boosted its stake 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 valued at $32,208,000 after buying an additional 322,404 shares during the period. 98.29% of the stock is currently owned by hedge funds and other 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.