IDEAYA Biosciences (NASDAQ:IDYA) Coverage Initiated 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.

Equities research analysts at Citizens Jmp began coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) in a research note issued on Thursday, Marketbeat.com reports. The brokerage set a "mkt outperform" rating and a $41.00 price target on the stock. Citizens Jmp's price objective suggests a potential upside of 75.29% from the company's current price.

IDYA has been the subject of several other reports. TD Cowen assumed coverage on shares of IDEAYA Biosciences in a research report on Tuesday, July 22nd. They set a "buy" rating for the company. The Goldman Sachs Group upgraded shares of IDEAYA Biosciences to a "hold" rating and set a $25.00 price objective for the company in a research report on Thursday, July 10th. Royal Bank Of Canada upgraded shares of IDEAYA Biosciences from an "outperform" rating to a "moderate buy" rating and decreased their price objective for the stock from $57.00 to $30.00 in a research report on Wednesday, July 9th. JMP Securities assumed coverage on shares of IDEAYA Biosciences in a research report on Thursday. They set a "market outperform" rating and a $41.00 price objective for the company. Finally, Citigroup assumed coverage on shares of IDEAYA Biosciences in a research report on Thursday. They set an "outperform" rating for the company. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, IDEAYA Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $45.77.

IDEAYA Biosciences Stock Down 13.9%

NASDAQ IDYA traded down $3.77 on Thursday, hitting $23.39. The company's stock had a trading volume of 3,051,309 shares, compared to its average volume of 1,150,682. IDEAYA Biosciences has a 1-year low of $13.45 and a 1-year high of $37.80. The company's 50-day moving average is $23.66 and its 200 day moving average is $20.63. The firm has a market cap of $2.05 billion, a PE ratio of -6.17 and a beta of 0.12.

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

Institutional Investors Weigh In On IDEAYA Biosciences

A number of large investors have recently bought and sold shares of IDYA. Raymond James Financial Inc. acquired a new stake in IDEAYA Biosciences in the fourth quarter worth $431,000. Ameriprise Financial Inc. grew its holdings in shares of IDEAYA Biosciences by 3.6% during the fourth quarter. Ameriprise Financial Inc. now owns 288,002 shares of the company's stock valued at $7,401,000 after buying an additional 10,072 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of IDEAYA Biosciences by 37.5% during the fourth quarter. BNP Paribas Financial Markets now owns 38,692 shares of the company's stock valued at $994,000 after buying an additional 10,543 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of IDEAYA Biosciences by 5.9% during the fourth quarter. Bank of America Corp DE now owns 747,934 shares of the company's stock valued at $19,222,000 after buying an additional 41,390 shares during the last quarter. Finally, Brevan Howard Capital Management LP grew its holdings in shares of IDEAYA Biosciences by 210.9% during the fourth quarter. Brevan Howard Capital Management LP now owns 44,539 shares of the company's stock valued at $1,145,000 after buying an additional 30,213 shares during the last quarter. 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.