Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Price Target at $53.67

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been assigned an average rating of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $53.67.

IDYA has been the topic of several research analyst reports. Oppenheimer reiterated an “outperform” rating and set a $53.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $41.00 to $27.00 in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Tuesday. Citigroup lowered their price objective on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Leerink Partnrs lowered shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th.

IDEAYA Biosciences Stock Up 3.3 %

Shares of IDYA opened at $25.61 on Monday. IDEAYA Biosciences has a 52-week low of $24.48 and a 52-week high of $47.74. The firm has a market capitalization of $2.21 billion, a PE ratio of -10.99 and a beta of 0.79. The firm has a 50-day moving average price of $28.28 and a 200 day moving average price of $34.01.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same quarter in the prior year, the firm earned ($0.46) earnings per share. On average, equities analysts expect that IDEAYA Biosciences will post -2.45 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Several large investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of IDEAYA Biosciences by 15.4% during the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after buying an additional 443,640 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in IDEAYA Biosciences by 38.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock valued at $117,000 after acquiring an additional 927 shares in the last quarter. Quest Partners LLC purchased a new position in IDEAYA Biosciences during the 2nd quarter valued at about $41,000. Scientech Research LLC increased its holdings in shares of IDEAYA Biosciences by 362.3% in the 2nd quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock valued at $973,000 after purchasing an additional 21,714 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of IDEAYA Biosciences by 34.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company’s stock worth $31,056,000 after purchasing an additional 226,514 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.