Stifel Nicolaus Boosts IDEAYA Biosciences (NASDAQ:IDYA) Price Target to $68.00

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective raised by Stifel Nicolaus from $63.00 to $68.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently weighed in on IDYA. JPMorgan Chase & Co. reduced their price objective on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an overweight rating on the stock in a research note on Thursday, August 8th. Lifesci Capital upgraded IDEAYA Biosciences to a strong-buy rating in a research report on Monday, July 29th. BTIG Research increased their price target on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a buy rating in a research note on Tuesday, July 9th. Royal Bank of Canada reaffirmed an outperform rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, August 7th. Finally, Wedbush reissued an outperform rating and set a $54.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, August 7th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $56.20.

IDEAYA Biosciences Trading Down 0.2 %

Shares of IDYA stock opened at $36.11 on Tuesday. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of -17.97 and a beta of 0.84. The business’s 50-day moving average price is $39.20 and its 200-day moving average price is $40.15. IDEAYA Biosciences has a 12 month low of $23.41 and a 12 month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative return on equity of 20.52% and a negative net margin of 483.05%. During the same quarter last year, the company earned ($0.50) EPS. On average, sell-side analysts predict that IDEAYA Biosciences will post -2.51 earnings per share for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Several hedge funds have recently modified their holdings of IDYA. Ameritas Investment Partners Inc. boosted its stake in IDEAYA Biosciences by 5.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock worth $288,000 after acquiring an additional 332 shares in the last quarter. Principal Financial Group Inc. increased its stake in IDEAYA Biosciences by 4.4% in the first quarter. Principal Financial Group Inc. now owns 15,275 shares of the company’s stock valued at $670,000 after purchasing an additional 648 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of IDEAYA Biosciences by 38.4% during the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock valued at $117,000 after purchasing an additional 927 shares during the period. Covestor Ltd boosted its position in shares of IDEAYA Biosciences by 9,225.0% during the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of IDEAYA Biosciences in the 2nd quarter valued at about $41,000. 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.