IDEAYA Biosciences’ (IDYA) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a report published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a $49.00 price target on the stock.

A number of other research firms have also commented on IDYA. Truist Financial boosted their price target on shares of IDEAYA Biosciences from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Thursday, January 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Wednesday. UBS Group began coverage on IDEAYA Biosciences in a report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, New Street Research set a $30.00 price objective on IDEAYA Biosciences in a report on Tuesday, October 21st. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average target price of $48.69.

IDEAYA Biosciences Stock Performance

Shares of IDEAYA Biosciences stock opened at $31.98 on Wednesday. The stock’s 50-day simple moving average is $34.19 and its 200 day simple moving average is $30.51. IDEAYA Biosciences has a 52-week low of $13.45 and a 52-week high of $39.28. The stock has a market capitalization of $2.81 billion, a P/E ratio of -24.41 and a beta of 0.10.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($0.94) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.09. The company had revenue of $21.75 million during the quarter, compared to analysts’ expectations of $5.95 million. During the same quarter last year, the firm posted ($1.49) earnings per share. IDEAYA Biosciences’s revenue for the quarter was up 55.7% compared to the same quarter last year. Equities research analysts forecast that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its holdings in IDEAYA Biosciences by 1.5% in the third quarter. Arizona State Retirement System now owns 23,324 shares of the company’s stock worth $635,000 after buying an additional 353 shares during the period. ANTIPODES PARTNERS Ltd raised its position in shares of IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after acquiring an additional 380 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of IDEAYA Biosciences by 16.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after acquiring an additional 436 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of IDEAYA Biosciences by 5.2% in the 4th quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock valued at $335,000 after purchasing an additional 476 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of IDEAYA Biosciences by 16.1% during the third quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company’s stock valued at $106,000 after purchasing an additional 537 shares in the last quarter. 98.29% of the stock is 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.