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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) 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.

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:IDYA) 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

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.