IDEAYA Biosciences (NASDAQ:IDYA) Earns Overweight Rating from Analysts at Barclays

Equities research analysts at Barclays started coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $40.00 price target on the stock. Barclays‘s price objective indicates a potential upside of 47.28% from the company’s current price.

A number of other brokerages also recently weighed in on IDYA. JMP Securities began coverage on IDEAYA Biosciences in a research note on Thursday. They issued a “market outperform” rating and a $41.00 target price on the stock. Royal Bank Of Canada upgraded IDEAYA Biosciences from an “outperform” rating to a “moderate buy” rating and cut their target price for the stock from $57.00 to $30.00 in a research note on Wednesday, July 9th. TD Cowen began coverage on IDEAYA Biosciences in a research note on Tuesday, July 22nd. They issued a “buy” rating on the stock. JPMorgan Chase & Co. boosted their target price on IDEAYA Biosciences from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group upgraded IDEAYA Biosciences to a “hold” rating and set a $25.00 target price on the stock in a research note on Thursday, July 10th. Twelve research 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 an average rating of “Moderate Buy” and a consensus price target of $45.77.

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $27.16 on Thursday. The stock has a 50 day moving average price of $23.66 and a two-hundred day moving average price of $20.64. The firm has a market capitalization of $2.38 billion, a P/E ratio of -7.17 and a beta of 0.12. IDEAYA Biosciences has a 52 week low of $13.45 and a 52 week high of $37.99.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.03). The business had revenue of $6.00 million during the quarter, compared to analysts’ expectations of $3.48 million. The business’s quarterly revenue was up NaN% on a year-over-year basis. During the same period in the prior year, the company earned ($0.68) earnings per share. On average, equities analysts forecast that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in IDEAYA Biosciences by 33.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,560 shares of the company’s stock valued at $189,000 after purchasing an additional 2,884 shares during the last quarter. Rhumbline Advisers lifted its stake in IDEAYA Biosciences by 9.6% in the first quarter. Rhumbline Advisers now owns 124,437 shares of the company’s stock valued at $2,038,000 after purchasing an additional 10,876 shares during the last quarter. Palumbo Wealth Management LLC lifted its stake in IDEAYA Biosciences by 65.8% in the first quarter. Palumbo Wealth Management LLC now owns 22,402 shares of the company’s stock valued at $367,000 after purchasing an additional 8,893 shares during the last quarter. Swiss National Bank lifted 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 last quarter. Finally, Vanguard Group Inc. lifted its stake in IDEAYA Biosciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,092,619 shares of the company’s stock valued at $83,417,000 after purchasing an additional 14,535 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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.