IDEAYA Biosciences (NASDAQ:IDYA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The firm presently has a $8.75 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 16.20% from the stock’s previous close.
According to Zacks, “IDEAYA Biosciences Inc. is an oncology-focused precision medicine company. It focuses on the discovery and development of therapeutics for patients using molecular diagnostics. The company’s product pipeline consists of IDE196, MAT2A, PARG, Pol-theta and WRN which are in clinical stage. IDEAYA Biosciences Inc. is based in South San Francisco, United States. “
Several other brokerages have also recently weighed in on IDYA. Oppenheimer started coverage on shares of IDEAYA Biosciences in a research report on Thursday, October 17th. They set an “outperform” rating and a $17.00 price target for the company. Robert W. Baird initiated coverage on shares of IDEAYA Biosciences in a research report on Monday, September 9th. They issued an “outperform” rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. IDEAYA Biosciences has an average rating of “Buy” and a consensus price target of $17.46.
Shares of IDYA opened at $7.53 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.86 and a quick ratio of 18.95. The firm’s fifty day moving average price is $6.69. IDEAYA Biosciences has a twelve month low of $4.89 and a twelve month high of $16.90.
IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Wednesday, November 13th. The company reported ($0.54) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.12. As a group, equities research analysts forecast that IDEAYA Biosciences will post -2.58 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth about $49,000. BlackRock Inc. purchased a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth about $82,000. Laurion Capital Management LP purchased a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth about $199,000. Vanguard Group Inc. purchased a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth about $349,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth about $354,000. 24.70% of the stock is owned by hedge funds and other institutional investors.
About IDEAYA Biosciences
IDEAYA Biosciences, Inc, an oncology-focused precision medicine company, focuses on the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company's product candidate in clinical development is IDE196, a protein kinase C inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.
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