JPMorgan Chase & Co. Issues Positive Forecast for IDEAYA Biosciences (NASDAQ:IDYA) Stock Price

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $63.00 to $66.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 246.80% from the stock's current price.

Separately, Stephens reaffirmed an "overweight" rating and set a $50.00 target price on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.27.

IDEAYA Biosciences Stock Down 0.6%

Shares of NASDAQ:IDYA traded down $0.12 on Thursday, hitting $19.03. The company had a trading volume of 44,225 shares, compared to its average volume of 1,002,509. IDEAYA Biosciences has a 1 year low of $13.45 and a 1 year high of $44.42. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -5.77 and a beta of 0.26. The firm's 50-day simple moving average is $17.66 and its two-hundred day simple moving average is $22.07.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.82) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.07). During the same quarter in the previous year, the company posted ($0.53) EPS. Equities research 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. FMR LLC increased its position in shares of IDEAYA Biosciences by 2.6% during the 4th quarter. FMR LLC now owns 12,963,151 shares of the company's stock valued at $333,153,000 after purchasing an additional 327,498 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of IDEAYA Biosciences by 13.5% during the 4th quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company's stock worth $150,606,000 after acquiring an additional 695,263 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of IDEAYA Biosciences by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,092,619 shares of the company's stock worth $83,417,000 after acquiring an additional 14,535 shares during the last quarter. Deerfield Management Company L.P. Series C increased its stake in shares of IDEAYA Biosciences by 5.5% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,736,000 shares of the company's stock worth $70,315,000 after purchasing an additional 142,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in IDEAYA Biosciences by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,988,681 shares of the company's stock worth $51,121,000 after purchasing an additional 43,226 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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