IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Average Recommendation of “Buy” from Brokerages

IDEAYA Biosciences, Inc. (NASDAQ:IDYAGet Free Report) has been assigned a consensus recommendation of “Buy” from the thirteen analysts that are currently covering the firm, Marketbeat reports. Twelve research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $55.90.

Several equities research analysts recently commented on IDYA shares. Mizuho started coverage on IDEAYA Biosciences in a report on Monday, July 8th. They issued an “outperform” rating and a $50.00 price objective for the company. Stifel Nicolaus reiterated a “buy” rating and issued a $63.00 price objective on shares of IDEAYA Biosciences in a report on Monday, July 8th. Oppenheimer reduced their price objective on IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. BTIG Research lifted their price objective on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, The Goldman Sachs Group reduced their price objective on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating for the company in a report on Monday, May 13th.

Get Our Latest Stock Analysis on IDYA

Insider Activity at IDEAYA Biosciences

In related news, insider Michael Anthony White sold 28,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total transaction of $1,032,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IDYA. Quest Partners LLC bought a new position in shares of IDEAYA Biosciences during the 2nd quarter valued at approximately $41,000. Covestor Ltd lifted its holdings in IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after purchasing an additional 1,107 shares in the last quarter. Comerica Bank lifted its holdings in IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after purchasing an additional 1,324 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in IDEAYA Biosciences in the 1st quarter worth approximately $67,000. Finally, Daiwa Securities Group Inc. lifted its holdings in IDEAYA Biosciences by 637.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after purchasing an additional 1,684 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors.

IDEAYA Biosciences Price Performance

IDYA opened at $37.76 on Tuesday. The stock has a 50-day moving average price of $38.46 and a 200-day moving average price of $41.01. The firm has a market cap of $2.86 billion, a PE ratio of -18.79 and a beta of 0.87. IDEAYA Biosciences has a 1 year low of $23.41 and a 1 year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYAGet Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. During the same period in the previous year, the business posted ($0.50) earnings per share. As a group, sell-side analysts anticipate that IDEAYA Biosciences will post -2.22 EPS for the current year.

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.

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Analyst Recommendations for IDEAYA Biosciences (NASDAQ:IDYA)

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