Stephens Reaffirms Overweight Rating for IDEAYA Biosciences (NASDAQ:IDYA)

Key Points

• Stephens has reaffirmed an "overweight" rating for IDEAYA Biosciences (NASDAQ:IDYA) with a target price of $45.00, indicating a potential upside of 92.39% from its last close.
• Analysts’ ratings for IDEAYA vary, with twelve giving a "Buy" rating and three a "Hold" rating, resulting in a consensus rating of "Moderate Buy" and an average target price of $45.38.
• IDEAYA reported quarterly earnings with a loss of ($0.88) per share, slightly missing expectations, while revenue increased significantly compared to the previous year.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report)'s stock had its "overweight" rating reissued by Stephens in a research report issued on Tuesday,Benzinga reports. They currently have a $45.00 target price on the stock. Stephens' price target would indicate a potential upside of 92.39% from the company's previous close.

A number of other equities research analysts have also recently weighed in on the company. Barclays began coverage on IDEAYA Biosciences in a research note on Thursday. They issued an "overweight" rating and a $40.00 price target on the stock. Wells Fargo & Company assumed coverage on IDEAYA Biosciences in a research note on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price target on the stock. Royal Bank Of Canada upgraded IDEAYA Biosciences from an "outperform" rating to a "moderate buy" rating and lowered their price objective for the stock from $57.00 to $30.00 in a research report on Wednesday, July 9th. TD Cowen assumed coverage on IDEAYA Biosciences in a research report on Tuesday, July 22nd. They set a "buy" rating on the stock. Finally, The Goldman Sachs Group upgraded IDEAYA Biosciences to a "hold" rating and set a $25.00 price objective on the stock in a research report on Thursday, July 10th. Twelve analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, IDEAYA Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $45.38.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $23.39 on Tuesday. The stock has a market cap of $2.05 billion, a P/E ratio of -6.17 and a beta of 0.12. The company has a fifty day moving average price of $23.71 and a two-hundred day moving average price of $20.64. IDEAYA Biosciences has a one year low of $13.45 and a one year high of $37.80.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.88) earnings per share for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.03). The company had revenue of $6.00 million during the quarter, compared to analyst estimates of $3.48 million. During the same quarter in the previous year, the business posted ($0.68) EPS. The company's revenue for the quarter was up NaN% compared to the same quarter last year. As a group, equities research analysts anticipate that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Several large investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its stake in IDEAYA Biosciences by 59.1% in the second quarter. Osaic Holdings Inc. now owns 7,443 shares of the company's stock valued at $148,000 after buying an additional 2,764 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in IDEAYA Biosciences by 23.6% in the second quarter. Orion Porfolio Solutions LLC now owns 44,625 shares of the company's stock valued at $938,000 after buying an additional 8,514 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in IDEAYA Biosciences by 10.2% in 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of 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 purchasing an additional 8,311 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in shares of IDEAYA Biosciences by 7.8% during the second quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company's stock valued at $257,000 after purchasing an additional 881 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

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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