Stifel Nicolaus Raises IDEAYA Biosciences (NASDAQ:IDYA) Price Target to $68.00

IDEAYA Biosciences (NASDAQ:IDYA) had its target price increased by analysts at Stifel Nicolaus from $63.00 to $68.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 86.56% from the stock’s current price.

Several other research firms have also issued reports on IDYA. Mizuho began coverage on shares of IDEAYA Biosciences in a report on Monday, July 8th. They issued an “outperform” rating and a $50.00 target price for the company. The Goldman Sachs Group dropped their target price on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Citigroup dropped their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Oppenheimer cut their price objective 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 data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of “Buy” and an average target price of $56.20.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $36.45 on Tuesday. The company has a market cap of $3.08 billion, a PE ratio of -18.13 and a beta of 0.84. IDEAYA Biosciences has a 1 year low of $23.41 and a 1 year high of $47.74. The stock’s 50 day simple moving average is $39.03 and its two-hundred day simple moving average is $40.28.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.52%. During the same period in the previous year, the business posted ($0.50) EPS. Equities research analysts expect that IDEAYA Biosciences will post -2.51 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in IDEAYA Biosciences by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after acquiring an additional 679,985 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of IDEAYA Biosciences by 43.6% during the fourth quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock valued at $70,337,000 after purchasing an additional 600,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of IDEAYA Biosciences by 17.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,566,278 shares of the company’s stock valued at $126,889,000 after purchasing an additional 535,909 shares in the last quarter. Fisher Asset Management LLC increased its holdings in IDEAYA Biosciences by 1,611.9% during the fourth quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock valued at $19,202,000 after buying an additional 508,151 shares during the period. Finally, Sofinnova Investments Inc. raised its stake in IDEAYA Biosciences by 47.3% in the second quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company’s stock worth $40,430,000 after buying an additional 369,932 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors.

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.