IDEAYA Biosciences (NASDAQ:IDYA) Receives Outperform Rating from Royal Bank of Canada

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $61.00 price target on the stock. Royal Bank of Canada’s price objective points to a potential upside of 168.49% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer reissued an “outperform” rating and set a $53.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday. Leerink Partners lowered IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Stephens began coverage on shares of IDEAYA Biosciences in a report on Monday, November 18th. They issued an “overweight” rating and a $51.00 price target on the stock. Finally, Wedbush restated an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Trading Down 2.3 %

Shares of IDEAYA Biosciences stock opened at $22.72 on Wednesday. The company has a market capitalization of $1.96 billion, a P/E ratio of -9.75 and a beta of 0.82. The stock has a fifty day simple moving average of $26.47 and a 200 day simple moving average of $32.41. IDEAYA Biosciences has a 12-month low of $22.17 and a 12-month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same quarter in the previous year, the company posted ($0.46) earnings per share. On average, analysts predict that IDEAYA Biosciences will post -2.45 EPS for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its holdings in shares of IDEAYA Biosciences by 800.0% in the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after acquiring an additional 800 shares during the period. Covestor Ltd boosted its stake in IDEAYA Biosciences by 23,050.0% in the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after purchasing an additional 922 shares during the period. Quest Partners LLC purchased a new position in IDEAYA Biosciences during the 2nd quarter valued at about $41,000. US Bancorp DE lifted its holdings in shares of IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after buying an additional 689 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position 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 acquiring an additional 1,684 shares during the period. 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.