IDEAYA Biosciences (NASDAQ:IDYA) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) in a research report issued on Thursday, MarketBeat reports. The firm set an "overweight" rating and a $44.00 price target on the stock. Wells Fargo & Company's target price points to a potential upside of 97.40% from the company's previous close.

Separately, JPMorgan Chase & Co. increased their price target on IDEAYA Biosciences from $63.00 to $66.00 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $53.42.

IDEAYA Biosciences Trading Up 1.3%

Shares of NASDAQ:IDYA opened at $22.29 on Thursday. IDEAYA Biosciences has a twelve month low of $13.45 and a twelve month high of $44.42. The company has a market cap of $1.95 billion, a PE ratio of -6.21 and a beta of 0.04. The company's 50 day moving average is $19.97 and its 200 day moving average is $20.82.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.82) earnings per share for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.07). During the same period in the previous year, the business posted ($0.53) EPS. Equities research analysts predict that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in IDEAYA Biosciences by 0.5% during the fourth quarter. Rhumbline Advisers now owns 113,561 shares of the company's stock valued at $2,919,000 after purchasing an additional 585 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of IDEAYA Biosciences by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,483 shares of the company's stock worth $123,000 after purchasing an additional 627 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of IDEAYA Biosciences by 44.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company's stock worth $72,000 after purchasing an additional 853 shares during the last quarter. Mariner LLC lifted its stake in IDEAYA Biosciences by 9.8% in the 4th quarter. Mariner LLC now owns 9,775 shares of the company's stock valued at $251,000 after buying an additional 869 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in IDEAYA Biosciences by 2.5% in the 4th quarter. Assetmark Inc. now owns 45,269 shares of the company's stock valued at $1,163,000 after buying an additional 1,084 shares in 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.