IDEAYA Biosciences (NASDAQ:IDYA) Earns Overweight Rating from Analysts at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company started coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a report released on Thursday, Marketbeat.com reports. The firm set an “overweight” rating and a $44.00 price target on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 105.90% from the company’s current price.

Separately, JPMorgan Chase & Co. increased their price objective on shares of IDEAYA Biosciences from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $53.42.

IDEAYA Biosciences Stock Down 4.1%

Shares of IDYA stock opened at $21.37 on Thursday. IDEAYA Biosciences has a 52-week low of $13.45 and a 52-week high of $44.42. The company’s 50 day moving average is $20.05 and its 200 day moving average is $20.78. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -5.95 and a beta of 0.04.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.07). During the same quarter last year, the company posted ($0.53) EPS. Analysts anticipate that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in shares of IDEAYA Biosciences by 325.7% during the 1st quarter. CWM LLC now owns 2,371 shares of the company’s stock worth $39,000 after purchasing an additional 1,814 shares during the period. PNC Financial Services Group Inc. increased its holdings in IDEAYA Biosciences by 180.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company’s stock worth $39,000 after acquiring an additional 1,546 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in IDEAYA Biosciences during the fourth quarter worth $47,000. Signaturefd LLC lifted its stake in IDEAYA Biosciences by 374.8% in the 1st quarter. Signaturefd LLC now owns 2,877 shares of the company’s stock valued at $47,000 after buying an additional 2,271 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of IDEAYA Biosciences by 44.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock valued at $72,000 after acquiring an additional 853 shares in the last quarter. 98.29% of the stock is 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.