IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $41.00

Key Points

• Royal Bank of Canada has raised the price target for IDEAYA Biosciences from $38.00 to $41.00, indicating a potential upside of 34.38%.
• Fifteen research analysts have rated IDEAYA Biosciences' stock with a Buy rating, suggesting strong market confidence in the company's prospects.
• IDEAYA Biosciences has a market capitalization of $2.67 billion, with shares trading between a low of $13.45 and a high of $32.67 over the past year.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) had its target price raised by research analysts at Royal Bank Of Canada from $38.00 to $41.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 34.38% from the company's current price.

Several other research firms have also recently commented on IDYA. Citizens Jmp initiated coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They set a "mkt outperform" rating and a $41.00 price target on the stock. Wall Street Zen cut shares of IDEAYA Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, October 11th. Barclays began coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They issued an "overweight" rating and a $40.00 price objective for the company. Wells Fargo & Company began coverage on shares of IDEAYA Biosciences in a report on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price objective for the company. Finally, Guggenheim began coverage on shares of IDEAYA Biosciences in a report on Thursday, September 18th. They issued a "buy" rating and a $50.00 price objective for the company. Fifteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $44.80.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $30.51 on Tuesday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -8.05 and a beta of 0.14. IDEAYA Biosciences has a 1 year low of $13.45 and a 1 year high of $32.67. The firm's 50 day moving average price is $25.82 and its two-hundred day moving average price is $22.36.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.88) earnings per share 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 quarter last year, the firm posted ($0.68) EPS. The business's quarterly revenue was up NaN% on a year-over-year basis. As a group, equities analysts predict that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC raised its position in shares of IDEAYA Biosciences by 325.7% during the first quarter. CWM LLC now owns 2,371 shares of the company's stock valued at $39,000 after buying an additional 1,814 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of IDEAYA Biosciences by 180.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company's stock valued at $39,000 after buying an additional 1,546 shares during the last quarter. Signaturefd LLC raised its position in shares of IDEAYA Biosciences by 374.8% during the first quarter. Signaturefd LLC now owns 2,877 shares of the company's stock valued at $47,000 after buying an additional 2,271 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of IDEAYA Biosciences during the second quarter valued at about $61,000. Finally, Daiwa Securities Group Inc. raised its position in shares of IDEAYA Biosciences by 16.1% during the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company's stock valued at $66,000 after buying an additional 436 shares during the last quarter. Institutional investors and hedge funds 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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