IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $53.67 Average PT from Brokerages

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has earned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $53.67.

Several analysts have recently commented on IDYA shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday. UBS Group assumed coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective on the stock. Leerink Partnrs downgraded IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $53.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th.

Hedge Funds Weigh In On IDEAYA Biosciences

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in shares of IDEAYA Biosciences by 9.7% in the second quarter. Rhumbline Advisers now owns 105,797 shares of the company’s stock valued at $3,715,000 after purchasing an additional 9,387 shares during the last quarter. Victory Capital Management Inc. grew its position in IDEAYA Biosciences by 10.3% in the 2nd quarter. Victory Capital Management Inc. now owns 316,105 shares of the company’s stock worth $11,098,000 after purchasing an additional 29,600 shares in the last quarter. Arizona State Retirement System increased its stake in IDEAYA Biosciences by 14.3% in the 2nd quarter. Arizona State Retirement System now owns 17,742 shares of the company’s stock valued at $623,000 after buying an additional 2,225 shares during the last quarter. Quest Partners LLC purchased a new stake in IDEAYA Biosciences in the 2nd quarter valued at about $41,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of IDEAYA Biosciences by 637.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after buying an additional 1,684 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors.

IDEAYA Biosciences Stock Down 1.0 %

IDYA stock opened at $22.74 on Friday. The company’s fifty day simple moving average is $26.61 and its 200 day simple moving average is $32.47. IDEAYA Biosciences has a 12-month low of $22.17 and a 12-month high of $47.74. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -9.76 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same period last year, the company earned ($0.46) earnings per share. Research analysts expect that IDEAYA Biosciences will post -2.45 earnings per share for the current year.

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.