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

Cantor Fitzgerald reaffirmed their overweight rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report sent to investors on Tuesday,Benzinga reports.

Several other brokerages have also issued reports on IDYA. Stifel Nicolaus boosted their price objective on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Wedbush reaffirmed an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday. Leerink Partners lowered IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and cut their target price for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Finally, Citigroup cut their price target on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.67.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA opened at $24.79 on Tuesday. The company has a market capitalization of $2.14 billion, a P/E ratio of -10.64 and a beta of 0.79. The company has a 50 day simple moving average of $28.38 and a 200-day simple moving average of $34.10. IDEAYA Biosciences has a 1 year low of $24.48 and a 1 year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same period last year, the firm posted ($0.46) EPS. As a group, research analysts expect that IDEAYA Biosciences will post -2.45 EPS for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several hedge funds have recently added to or reduced their stakes in IDYA. SG Americas Securities LLC increased its holdings in shares of IDEAYA Biosciences by 411.3% in the 2nd quarter. SG Americas Securities LLC now owns 11,775 shares of the company’s stock valued at $413,000 after acquiring an additional 9,472 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of IDEAYA Biosciences by 38.4% in the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock valued at $117,000 after buying an additional 927 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of IDEAYA Biosciences by 43.0% during the second quarter. Bank of New York Mellon Corp now owns 316,492 shares of the company’s stock worth $11,112,000 after buying an additional 95,129 shares during the period. Rhumbline Advisers grew its holdings in shares of IDEAYA Biosciences by 9.7% during the second quarter. Rhumbline Advisers now owns 105,797 shares of the company’s stock worth $3,715,000 after buying an additional 9,387 shares during the last quarter. Finally, Fiera Capital Corp increased its position in IDEAYA Biosciences by 22.6% in the 2nd quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock valued at $46,886,000 after acquiring an additional 246,010 shares during the period. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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.