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

IDEAYA Biosciences (NASDAQ:IDYA - Free Report) had its price objective boosted by JPMorgan Chase & Co. from $63.00 to $66.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

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

IDEAYA Biosciences Stock Up 3.1%

Shares of NASDAQ IDYA traded up $0.58 during midday trading on Thursday, reaching $19.40. 436,585 shares of the company's stock traded hands, compared to its average volume of 1,166,911. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -5.90 and a beta of 0.26. The stock's 50 day simple moving average is $17.67 and its 200-day simple moving average is $21.71. IDEAYA Biosciences has a one year low of $13.45 and a one year high of $44.42.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its earnings results 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 prior year, the firm posted ($0.53) earnings per share. Equities analysts predict that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of IDEAYA Biosciences by 188.8% in the 3rd quarter. Barclays PLC now owns 181,170 shares of the company's stock valued at $5,739,000 after purchasing an additional 118,438 shares during the last quarter. Geode Capital Management LLC increased its stake in IDEAYA Biosciences by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,988,681 shares of the company's stock valued at $51,121,000 after purchasing an additional 43,226 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of IDEAYA Biosciences by 444.2% in the fourth quarter. SG Americas Securities LLC now owns 18,486 shares of the company's stock worth $475,000 after buying an additional 15,089 shares during the last quarter. WCM Investment Management LLC acquired a new stake in shares of IDEAYA Biosciences during the fourth quarter worth $6,030,000. Finally, abrdn plc lifted its stake in shares of IDEAYA Biosciences by 31.7% during the fourth quarter. abrdn plc now owns 306,723 shares of the company's stock worth $7,883,000 after buying an additional 73,893 shares during the period. 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.