IDEAYA Biosciences (NASDAQ:IDYA) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $61.00 price objective on the stock.

Several other brokerages have also recently weighed in on IDYA. Lifesci Capital upgraded IDEAYA Biosciences to a strong-buy rating in a research report on Monday, July 29th. BTIG Research boosted their target price on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a buy rating in a research note on Tuesday, July 9th. Mizuho started coverage on shares of IDEAYA Biosciences in a research report on Monday, July 8th. They set an outperform rating and a $50.00 price target on the stock. Wedbush reiterated an outperform rating and issued a $54.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, August 7th. Finally, Oppenheimer dropped their target price on IDEAYA Biosciences from $60.00 to $53.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Buy and a consensus target price of $56.00.

IDEAYA Biosciences Stock Up 0.4 %

Shares of NASDAQ IDYA opened at $30.50 on Tuesday. IDEAYA Biosciences has a 52 week low of $23.41 and a 52 week high of $47.74. The business’s 50 day moving average price is $38.33 and its 200 day moving average price is $39.42. The firm has a market cap of $2.58 billion, a P/E ratio of -15.02 and a beta of 0.84.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates 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 business posted ($0.50) earnings per share. As a group, research analysts expect that IDEAYA Biosciences will post -2.51 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several large investors have recently bought and sold shares of the company. Scientech Research LLC lifted its position in shares of IDEAYA Biosciences by 362.3% in the second quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock valued at $973,000 after acquiring an additional 21,714 shares in the last quarter. Millennium Management LLC lifted its holdings in IDEAYA Biosciences by 87.1% in the 2nd quarter. Millennium Management LLC now owns 258,606 shares of the company’s stock valued at $9,080,000 after purchasing an additional 120,395 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in IDEAYA Biosciences by 34.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company’s stock worth $31,056,000 after purchasing an additional 226,514 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of IDEAYA Biosciences by 127.1% during the second quarter. Squarepoint Ops LLC now owns 100,502 shares of the company’s stock worth $3,529,000 after buying an additional 56,256 shares in the last quarter. Finally, Samlyn Capital LLC raised its position in shares of IDEAYA Biosciences by 27.1% in the second quarter. Samlyn Capital LLC now owns 611,820 shares of the company’s stock valued at $21,481,000 after buying an additional 130,595 shares during the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile

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.