IDEAYA Biosciences (NASDAQ:IDYA) Coverage Initiated at UBS Group

Analysts at UBS Group started coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating and a $50.00 price target on the stock. UBS Group’s price objective would suggest a potential upside of 34.13% from the stock’s current price.

Several other research analysts have also issued reports on IDYA. Mizuho raised their price target on shares of IDEAYA Biosciences from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. New Street Research set a $30.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 21st. Citigroup reiterated a “buy” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 9th. JPMorgan Chase & Co. upped their price objective on IDEAYA Biosciences from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.33.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock traded up $0.97 during mid-day trading on Wednesday, reaching $37.28. 158,087 shares of the company were exchanged, compared to its average volume of 835,704. The firm has a market cap of $3.27 billion, a PE ratio of -20.03 and a beta of 0.05. The company has a fifty day simple moving average of $33.69 and a 200-day simple moving average of $28.00. IDEAYA Biosciences has a 12 month low of $13.45 and a 12 month high of $37.88.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $1.45. The company had revenue of $207.83 million for the quarter, compared to the consensus estimate of $59.98 million. Sell-side analysts anticipate that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDYA. State of New Jersey Common Pension Fund D boosted its position in shares of IDEAYA Biosciences by 11.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 100,827 shares of the company’s stock worth $2,119,000 after purchasing an additional 10,047 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in IDEAYA Biosciences by 19.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 13,787 shares of the company’s stock worth $290,000 after acquiring an additional 2,227 shares in the last quarter. Creative Planning grew its stake in shares of IDEAYA Biosciences by 99.4% in the second quarter. Creative Planning now owns 121,684 shares of the company’s stock worth $2,558,000 after acquiring an additional 60,667 shares during the last quarter. Signaturefd LLC grew its stake in shares of IDEAYA Biosciences by 58.1% in the second quarter. Signaturefd LLC now owns 4,549 shares of the company’s stock worth $96,000 after acquiring an additional 1,672 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of IDEAYA Biosciences by 9.6% during the first quarter. Rhumbline Advisers now owns 124,437 shares of the company’s stock valued at $2,038,000 after acquiring an additional 10,876 shares in the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.