IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $68.00

IDEAYA Biosciences (NASDAQ:IDYA) had its target price hoisted by equities research analysts at Stifel Nicolaus from $63.00 to $68.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 86.56% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Citigroup cut their price objective on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, August 7th. Mizuho assumed coverage on IDEAYA Biosciences in a research report on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective on the stock. Oppenheimer decreased their target price on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a research report on Monday, July 29th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IDEAYA Biosciences presently has an average rating of “Buy” and an average price target of $56.20.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $36.45 on Tuesday. IDEAYA Biosciences has a one year low of $23.41 and a one year high of $47.74. The stock has a fifty day moving average of $39.03 and a 200 day moving average of $40.28. The stock has a market cap of $3.08 billion, a PE ratio of -18.13 and a beta of 0.84.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative return on equity of 20.52% and a negative net margin of 483.05%. During the same quarter in the prior year, the firm posted ($0.50) earnings per share. As a group, sell-side analysts predict that IDEAYA Biosciences will post -2.51 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Several hedge funds have recently bought and sold shares of IDYA. Covestor Ltd lifted its position in shares of IDEAYA Biosciences by 9,225.0% in the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after buying an additional 1,107 shares in the last quarter. Quest Partners LLC bought a new stake in IDEAYA Biosciences in the 2nd quarter worth approximately $41,000. Comerica Bank raised its holdings in shares of IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after acquiring an additional 1,324 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of IDEAYA Biosciences during the 1st quarter valued at approximately $67,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of IDEAYA Biosciences by 637.9% in the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock valued at $68,000 after purchasing an additional 1,684 shares in the last quarter. Hedge funds and other institutional investors 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.