IDEAYA Biosciences’ (IDYA) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a report issued on Tuesday, Benzinga reports. They currently have a $61.00 price objective on the stock.

Several other analysts have also recently weighed in on the company. Lifesci Capital raised IDEAYA Biosciences to a strong-buy rating in a report on Monday, July 29th. BTIG Research boosted their price objective on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a buy rating in a report on Tuesday, July 9th. Oppenheimer dropped their price objective on IDEAYA Biosciences from $60.00 to $53.00 and set an outperform rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on IDEAYA Biosciences from $69.00 to $66.00 and set an overweight rating for the company in a report on Thursday, August 8th. Finally, Mizuho assumed coverage on IDEAYA Biosciences in a report on Monday, July 8th. They set an outperform rating and a $50.00 price objective for the company. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Buy and a consensus price target of $56.00.

IDEAYA Biosciences Stock Up 1.0 %

IDEAYA Biosciences stock opened at $30.80 on Tuesday. The stock has a 50-day simple moving average of $38.12 and a 200 day simple moving average of $39.36. IDEAYA Biosciences has a 12-month low of $23.41 and a 12-month high of $47.74. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -15.38 and a beta of 0.84.

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

Hedge Funds Weigh In On IDEAYA Biosciences

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in IDEAYA Biosciences by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after acquiring an additional 679,985 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in IDEAYA Biosciences by 13.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock worth $177,825,000 after acquiring an additional 486,222 shares during the last quarter. Janus Henderson Group PLC boosted its position in IDEAYA Biosciences by 7.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock worth $167,104,000 after acquiring an additional 256,559 shares during the last quarter. Capital Research Global Investors boosted its position in IDEAYA Biosciences by 43.6% during the 4th quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock worth $70,337,000 after acquiring an additional 600,000 shares during the last quarter. Finally, Logos Global Management LP boosted its position in IDEAYA Biosciences by 13.3% during the 2nd quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock worth $59,687,000 after acquiring an additional 200,000 shares during the last quarter. Institutional investors and hedge funds 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.