IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Consensus Rating of “Buy” from Analysts

IDEAYA Biosciences, Inc. (NASDAQ:IDYAGet Free Report) has received an average rating of “Buy” from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $48.27.

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of IDEAYA Biosciences from $43.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Stifel Nicolaus raised their target price on shares of IDEAYA Biosciences from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday. BTIG Research assumed coverage on shares of IDEAYA Biosciences in a research note on Friday, March 8th. They issued a “buy” rating and a $55.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of IDEAYA Biosciences from $51.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a report on Wednesday, May 8th.

Get Our Latest Stock Analysis on IDEAYA Biosciences

IDEAYA Biosciences Stock Up 2.7 %

NASDAQ:IDYA opened at $39.66 on Thursday. The company has a market cap of $3.00 billion, a P/E ratio of -19.73 and a beta of 0.79. IDEAYA Biosciences has a fifty-two week low of $20.90 and a fifty-two week high of $47.74. The firm’s 50 day moving average is $40.50 and its two-hundred day moving average is $39.93.

IDEAYA Biosciences (NASDAQ:IDYAGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. During the same quarter in the previous year, the company posted ($0.49) EPS. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. Research analysts forecast that IDEAYA Biosciences will post -2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 56,711 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $28,206,878.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Yujiro S. Hata sold 56,711 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $28,206,878.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Yujiro S. Hata sold 34,433 shares of IDEAYA Biosciences stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.81, for a total transaction of $1,439,643.73. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at $28,342,455.47. The disclosure for this sale can be found here. Insiders sold a total of 119,644 shares of company stock valued at $4,832,228 in the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of IDEAYA Biosciences by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after buying an additional 679,985 shares during the period. Price T Rowe Associates Inc. MD lifted its position in IDEAYA Biosciences by 13.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock valued at $177,825,000 after purchasing an additional 486,222 shares during the last quarter. Federated Hermes Inc. lifted its position in IDEAYA Biosciences by 14.8% in the 4th quarter. Federated Hermes Inc. now owns 3,883,775 shares of the company’s stock valued at $138,185,000 after purchasing an additional 500,046 shares during the last quarter. Janus Henderson Group PLC lifted its position in IDEAYA Biosciences by 7.2% in the 1st quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock valued at $167,104,000 after purchasing an additional 256,559 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in IDEAYA Biosciences by 43.6% in the 4th 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 during the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

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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.

Further Reading

Analyst Recommendations for IDEAYA Biosciences (NASDAQ:IDYA)

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