Cantor Fitzgerald Reiterates “Overweight” Rating for IDEAYA Biosciences (NASDAQ:IDYA)

Cantor Fitzgerald restated their overweight rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note issued to investors on Monday morning,Benzinga reports.

A number of other brokerages have also commented on IDYA. UBS Group began coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective on the stock. Stephens began coverage on IDEAYA Biosciences in a report on Monday, November 18th. They set an “overweight” rating and a $51.00 price target on the stock. Leerink Partners lowered shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.67.

IDEAYA Biosciences Stock Down 4.4 %

IDEAYA Biosciences stock opened at $22.97 on Monday. IDEAYA Biosciences has a 12 month low of $22.33 and a 12 month high of $47.74. The company’s fifty day simple moving average is $26.75 and its 200-day simple moving average is $32.56. The stock has a market cap of $1.99 billion, a P/E ratio of -9.86 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period in the prior year, the firm posted ($0.46) earnings per share. On average, equities research analysts expect that IDEAYA Biosciences will post -2.45 earnings per share for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Several institutional investors have recently made changes to their positions in IDYA. FMR LLC raised its position in IDEAYA Biosciences by 12.1% in the third quarter. FMR LLC now owns 12,635,653 shares of the company’s stock worth $400,297,000 after purchasing an additional 1,365,570 shares in the last quarter. RA Capital Management L.P. bought a new stake in shares of IDEAYA Biosciences in the 3rd quarter valued at approximately $42,681,000. Janus Henderson Group PLC raised its holdings in shares of IDEAYA Biosciences by 26.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock worth $163,518,000 after buying an additional 1,086,356 shares in the last quarter. Jennison Associates LLC lifted its position in shares of IDEAYA Biosciences by 136.6% during the 3rd quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock worth $30,801,000 after buying an additional 561,404 shares during the period. Finally, State Street Corp boosted its stake in IDEAYA Biosciences by 15.4% in the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after buying an additional 443,640 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.