Cantor Fitzgerald Reaffirms Overweight Rating for IDEAYA Biosciences (NASDAQ:IDYA)

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research note issued to investors on Monday,Benzinga reports.

Other equities research analysts have also issued reports about the stock. Stephens assumed coverage on shares of IDEAYA Biosciences in a report on Monday, November 18th. They issued an “overweight” rating and a $51.00 price objective on the stock. Oppenheimer reissued an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. UBS Group assumed coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price on the stock. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. Finally, Wedbush reissued an “outperform” rating and issued a $52.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.67.

IDEAYA Biosciences Trading Down 0.8 %

IDYA opened at $23.83 on Monday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -10.23 and a beta of 0.82. The stock’s 50-day moving average price is $26.89 and its 200 day moving average price is $32.64. IDEAYA Biosciences has a 12-month low of $23.83 and a 12-month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping 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, research analysts forecast that IDEAYA Biosciences will post -2.45 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in IDEAYA Biosciences by 12.1% in the third quarter. FMR LLC now owns 12,635,653 shares of the company’s stock valued at $400,297,000 after purchasing an additional 1,365,570 shares during the period. RA Capital Management L.P. purchased a new stake in shares of IDEAYA Biosciences during the 3rd quarter worth about $42,681,000. Janus Henderson Group PLC increased its position in IDEAYA Biosciences by 26.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock worth $163,518,000 after purchasing an additional 1,086,356 shares in the last quarter. Jennison Associates LLC raised its holdings in IDEAYA Biosciences by 136.6% in the third quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock valued at $30,801,000 after buying an additional 561,404 shares during the period. Finally, State Street Corp lifted its position in IDEAYA Biosciences by 15.4% during the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after buying an additional 443,640 shares in the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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.