IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $38.00 at Royal Bank Of Canada

Key Points

• Royal Bank Of Canada has raised its price target for IDEAYA Biosciences from $36.00 to $38.00, suggesting a potential upside of 58.61% from the previous close.
• Several research analysts have recently rated IDEAYA, with a consensus rating of "Moderate Buy" and a average price target of $46.00.
• IDEAYA Biosciences reported earnings with a loss of ($0.88) EPS, missing the consensus estimate, but exceeding revenue expectations with $6.00 million for the quarter.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) had its price target raised by research analysts at Royal Bank Of Canada from $36.00 to $38.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 58.61% from the company's previous close.

A number of other equities research analysts have also recently commented on IDYA. The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 target price on the stock in a research note on Thursday, July 10th. TD Cowen initiated coverage on shares of IDEAYA Biosciences in a research report on Tuesday, July 22nd. They set a "buy" rating on the stock. Citizens Jmp started coverage on shares of IDEAYA Biosciences in a research note on Thursday, September 4th. They set a "mkt outperform" rating and a $41.00 price objective for the company. Stephens reaffirmed an "overweight" rating and issued a $45.00 target price on shares of IDEAYA Biosciences in a report on Tuesday. Finally, JMP Securities initiated coverage on shares of IDEAYA Biosciences in a research note on Thursday. They issued a "market outperform" rating and a $41.00 target price on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.00.

IDEAYA Biosciences Price Performance

Shares of IDEAYA Biosciences stock opened at $23.96 on Tuesday. IDEAYA Biosciences has a 1 year low of $13.45 and a 1 year high of $37.80. The company has a 50-day moving average of $23.71 and a 200 day moving average of $20.64. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -6.33 and a beta of 0.12.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its 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 firm had revenue of $6.00 million for the quarter, compared to analysts' expectations of $3.48 million. The business's revenue was up NaN% on a year-over-year basis. During the same period last year, the firm earned ($0.68) EPS. On average, equities analysts anticipate that IDEAYA Biosciences will post -3.07 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. grew its stake in shares of IDEAYA Biosciences by 59.1% during the 2nd quarter. Osaic Holdings Inc. now owns 7,443 shares of the company's stock valued at $148,000 after purchasing an additional 2,764 shares during the period. Orion Porfolio Solutions LLC boosted its holdings in shares of IDEAYA Biosciences by 23.6% in the second quarter. Orion Porfolio Solutions LLC now owns 44,625 shares of the company's stock worth $938,000 after buying an additional 8,514 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in IDEAYA Biosciences by 10.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 17,416 shares of the company's stock valued at $367,000 after buying an additional 1,609 shares during the period. Tower Research Capital LLC TRC increased its holdings in IDEAYA Biosciences by 677.3% during the second quarter. Tower Research Capital LLC TRC now owns 9,538 shares of the company's stock valued at $200,000 after buying an additional 8,311 shares during the last quarter. Finally, E Fund Management Co. Ltd. raised its position in IDEAYA Biosciences by 7.8% in the second quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company's stock worth $257,000 after acquiring an additional 881 shares during the period. Hedge funds and other institutional investors own 98.29% of the company's stock.

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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