IDEAYA Biosciences’ (IDYA) Overweight Rating Reiterated at Cantor Fitzgerald

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Monday,Benzinga reports.

IDYA has been the subject of a number of other reports. Leerink Partnrs cut shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Wedbush restated an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th. UBS Group initiated coverage on shares of IDEAYA Biosciences in a research report on Thursday, October 24th. They set a “buy” rating and a $50.00 price target for the company. Finally, Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and cut their price target for the company from $41.00 to $27.00 in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, IDEAYA Biosciences presently has an average rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Performance

IDYA stock opened at $23.83 on Monday. The firm has a market cap of $2.06 billion, a P/E ratio of -10.23 and a beta of 0.82. IDEAYA Biosciences has a 1 year low of $23.83 and a 1 year high of $47.74. The stock has a 50-day simple moving average of $26.89 and a 200-day simple moving average of $32.64.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of IDEAYA Biosciences by 17.8% during the third quarter. JPMorgan Chase & Co. now owns 79,780 shares of the company’s stock valued at $2,527,000 after purchasing an additional 12,029 shares during the period. Geode Capital Management LLC increased its stake in IDEAYA Biosciences by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company’s stock valued at $61,645,000 after buying an additional 172,838 shares during the period. Barclays PLC raised its position in shares of IDEAYA Biosciences by 188.8% during the 3rd quarter. Barclays PLC now owns 181,170 shares of the company’s stock worth $5,739,000 after buying an additional 118,438 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of IDEAYA Biosciences during the 3rd quarter worth about $245,000. Finally, Two Sigma Advisers LP lifted its stake in shares of IDEAYA Biosciences by 1.7% in the 3rd quarter. Two Sigma Advisers LP now owns 468,100 shares of the company’s stock worth $14,829,000 after acquiring an additional 7,700 shares during the period. 98.29% of the stock is owned by institutional investors and hedge funds.

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.