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 research report released on Friday.

Several other equities analysts also recently weighed in 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 on the stock. TD Cowen started coverage on shares of IDEAYA Biosciences in a research report on Tuesday, July 22nd. They set a “buy” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 9th. Stephens reiterated an “overweight” rating and set a $45.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, September 9th. Finally, Wells Fargo & Company started coverage on shares of IDEAYA Biosciences in a research report on Thursday, June 26th. They set an “overweight” rating and a $44.00 price objective on the stock. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.36.

IDEAYA Biosciences Price Performance

Shares of NASDAQ:IDYA opened at $27.64 on Friday. IDEAYA Biosciences has a 1-year low of $13.45 and a 1-year high of $32.67. The company has a market capitalization of $2.42 billion, a P/E ratio of -7.29 and a beta of 0.14. The firm’s 50 day simple moving average is $25.04 and its two-hundred day simple moving average is $21.48.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.03). The business had revenue of $6.00 million for the quarter, compared to analyst estimates of $3.48 million. During the same quarter in the prior year, the company earned ($0.68) earnings per share. IDEAYA Biosciences’s quarterly revenue was up NaN% on a year-over-year basis. On average, sell-side analysts anticipate that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its position in shares of IDEAYA Biosciences by 16.1% during the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after buying an additional 436 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of IDEAYA Biosciences by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,483 shares of the company’s stock valued at $123,000 after buying an additional 627 shares during the last quarter. CWM LLC lifted its position in shares of IDEAYA Biosciences by 33.0% during the second quarter. CWM LLC now owns 3,153 shares of the company’s stock valued at $66,000 after buying an additional 782 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in shares of IDEAYA Biosciences by 7.8% during the second quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company’s stock valued at $257,000 after buying an additional 881 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of IDEAYA Biosciences by 39.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,344 shares of the company’s stock valued at $70,000 after buying an additional 940 shares during the last quarter. 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.