IDEAYA Biosciences (NASDAQ:IDYA) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of IDEAYA Biosciences (NASDAQ:IDYA) from a sell rating to a hold rating in a report issued on Saturday morning.

A number of other analysts have also commented on IDYA. Oppenheimer set a $36.00 price objective on IDEAYA Biosciences and gave the company an “outperform” rating in a research note on Monday, September 8th. JMP Securities started coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They issued a “market outperform” rating and a $41.00 target price on the stock. Barclays started coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They set an “overweight” rating and a $40.00 price target for the company. Citigroup reissued a “buy” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 9th. Finally, TD Cowen initiated coverage on shares of IDEAYA Biosciences in a research note on Tuesday, July 22nd. They issued a “buy” rating for the company. Fourteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.13.

IDEAYA Biosciences Price Performance

Shares of IDYA opened at $31.86 on Friday. IDEAYA Biosciences has a 1-year low of $13.45 and a 1-year high of $33.64. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -8.41 and a beta of 0.14. The firm has a 50 day simple moving average of $26.96 and a 200-day simple moving average of $23.30.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results 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 revenue was up NaN% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.68) EPS. On average, equities analysts expect that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of IDYA. PNC Financial Services Group Inc. raised its stake in IDEAYA Biosciences by 180.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company’s stock worth $39,000 after purchasing an additional 1,546 shares during the period. CWM LLC increased its holdings in shares of IDEAYA Biosciences by 325.7% during the 1st quarter. CWM LLC now owns 2,371 shares of the company’s stock worth $39,000 after buying an additional 1,814 shares during the last quarter. Signaturefd LLC raised its position in shares of IDEAYA Biosciences by 374.8% in the 1st quarter. Signaturefd LLC now owns 2,877 shares of the company’s stock worth $47,000 after buying an additional 2,271 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of IDEAYA Biosciences in the 2nd quarter worth $61,000. Finally, Daiwa Securities Group Inc. boosted its holdings in IDEAYA Biosciences by 16.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after acquiring an additional 436 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.