Oppenheimer Reiterates “Outperform” Rating for IDEAYA Biosciences (NASDAQ:IDYA)

Oppenheimer restated their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $53.00 price target on the stock.

IDYA has been the topic of several other reports. UBS Group started coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective on the stock. Wedbush dropped their price objective on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. Cantor Fitzgerald assumed coverage on shares of IDEAYA Biosciences in a research note on Tuesday, October 15th. They issued an “overweight” rating for the company. Stifel Nicolaus upped their price objective on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IDEAYA Biosciences presently has an average rating of “Buy” and an average target price of $55.45.

IDEAYA Biosciences Stock Up 1.6 %

Shares of IDYA opened at $28.60 on Tuesday. The company has a market capitalization of $2.42 billion, a P/E ratio of -13.06 and a beta of 0.82. The firm has a 50 day moving average of $33.15 and a 200 day moving average of $36.99. IDEAYA Biosciences has a twelve month low of $27.52 and a twelve month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). During the same quarter in the previous year, the company posted ($0.50) EPS. On average, sell-side analysts expect that IDEAYA Biosciences will post -2.47 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Several hedge funds have recently made changes to their positions in IDYA. Vanguard Group Inc. lifted its stake in shares of IDEAYA Biosciences by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 3,475,772 shares of the company’s stock valued at $123,668,000 after purchasing an additional 504,275 shares during the period. Entropy Technologies LP acquired a new position in IDEAYA Biosciences during the first quarter valued at approximately $679,000. Jennison Associates LLC acquired a new position in IDEAYA Biosciences during the first quarter valued at approximately $11,244,000. Nisa Investment Advisors LLC lifted its position in 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 buying an additional 927 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of IDEAYA Biosciences by 30.9% during the first quarter. Swiss National Bank now owns 111,400 shares of the company’s stock worth $4,888,000 after purchasing an additional 26,300 shares in the last quarter. Institutional investors and hedge funds 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.