IDEAYA Biosciences (NASDAQ:IDYA) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of IDEAYA Biosciences (NASDAQ:IDYA) from a hold rating to a buy rating in a research note published on Sunday morning.

A number of other analysts have also weighed in on the company. Barclays started coverage on IDEAYA Biosciences in a research report on Thursday, September 4th. They set an “overweight” rating and a $40.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 9th. BTIG Research reiterated a “buy” rating and issued a $62.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, October 21st. Royal Bank Of Canada upped their target price on shares of IDEAYA Biosciences from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, TD Cowen started coverage on shares of IDEAYA Biosciences in a research note on Tuesday, July 22nd. They issued a “buy” rating for the company. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.36.

IDEAYA Biosciences Stock Up 2.1%

NASDAQ IDYA traded up $0.65 during trading on Friday, hitting $30.89. The stock had a trading volume of 674,608 shares, compared to its average volume of 1,171,960. The company has a market capitalization of $2.71 billion, a PE ratio of -16.61 and a beta of 0.14. IDEAYA Biosciences has a twelve month low of $13.45 and a twelve month high of $33.64. The firm has a 50 day moving average price of $27.51 and a 200 day moving average price of $23.78.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of ($0.12) by $1.45. The business had revenue of $207.83 million during the quarter, compared to analysts’ expectations of $59.98 million. On average, sell-side analysts anticipate that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IDYA. State of New Jersey Common Pension Fund D increased its holdings in shares of IDEAYA Biosciences by 11.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 100,827 shares of the company’s stock valued at $2,119,000 after acquiring an additional 10,047 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in IDEAYA Biosciences by 19.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,787 shares of the company’s stock worth $290,000 after purchasing an additional 2,227 shares during the period. American Century Companies Inc. purchased a new position in IDEAYA Biosciences during the 1st quarter worth $195,000. Swiss National Bank increased its stake in IDEAYA Biosciences by 0.8% in the first quarter. Swiss National Bank now owns 150,800 shares of the company’s stock valued at $2,470,000 after purchasing an additional 1,200 shares during the period. Finally, Signaturefd LLC increased its stake in IDEAYA Biosciences by 58.1% in the second quarter. Signaturefd LLC now owns 4,549 shares of the company’s stock valued at $96,000 after purchasing an additional 1,672 shares during the period. Institutional investors and hedge funds own 98.29% of the company’s stock.

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.