UBS Group Begins Coverage on IDEAYA Biosciences (NASDAQ:IDYA)

Stock analysts at UBS Group began coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a note issued to investors on Thursday, Briefing.com reports. The firm set a “buy” rating and a $50.00 price target on the stock. UBS Group’s price objective would suggest a potential upside of 69.49% from the company’s current price.

IDYA has been the topic of several other research reports. Stifel Nicolaus lifted their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Oppenheimer cut their target price on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Mizuho initiated coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They issued an “outperform” rating and a $50.00 price target for the company. Wedbush cut their price objective on IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 24th. Finally, BTIG Research increased their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, IDEAYA Biosciences has a consensus rating of “Buy” and a consensus target price of $55.45.

IDEAYA Biosciences Trading Down 2.4 %

IDEAYA Biosciences stock opened at $29.50 on Thursday. The firm has a market cap of $2.23 billion, a P/E ratio of -14.68 and a beta of 0.82. IDEAYA Biosciences has a 1-year low of $23.41 and a 1-year high of $47.74. The firm has a 50-day moving average of $34.50 and a 200-day moving average of $37.60.

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 the consensus estimate of ($0.54) by ($0.14). During the same period last year, the firm posted ($0.50) earnings per share. Research analysts forecast that IDEAYA Biosciences will post -2.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IDYA. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of IDEAYA Biosciences by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock valued at $94,000 after buying an additional 796 shares during the last quarter. Allworth Financial LP lifted its position in IDEAYA Biosciences by 800.0% in the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 800 shares in the last quarter. Values First Advisors Inc. purchased a new stake in IDEAYA Biosciences during the 3rd quarter valued at $74,000. Creative Planning bought a new stake in shares of IDEAYA Biosciences in the 3rd quarter worth $275,000. Finally, Scientech Research LLC raised its stake 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 worth $973,000 after purchasing an additional 21,714 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other 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.