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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been assigned an average recommendation of “Buy” from the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $56.00.

A number of research analysts recently commented on IDYA shares. Wedbush reduced their target price on IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. Stifel Nicolaus boosted their target price on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. BTIG Research lifted their price target on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Finally, Mizuho initiated coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They issued an “outperform” rating and a $50.00 price objective for the company.

Institutional Trading of IDEAYA Biosciences

Several large investors have recently modified their holdings of IDYA. Scientech Research LLC lifted its holdings in IDEAYA Biosciences by 362.3% in the 2nd quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock worth $973,000 after buying an additional 21,714 shares during the period. Millennium Management LLC lifted its stake in IDEAYA Biosciences by 87.1% in the second quarter. Millennium Management LLC now owns 258,606 shares of the company’s stock worth $9,080,000 after acquiring an additional 120,395 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in IDEAYA Biosciences by 34.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company’s stock valued at $31,056,000 after acquiring an additional 226,514 shares in the last quarter. Squarepoint Ops LLC increased its position in IDEAYA Biosciences by 127.1% during the 2nd quarter. Squarepoint Ops LLC now owns 100,502 shares of the company’s stock valued at $3,529,000 after purchasing an additional 56,256 shares during the period. Finally, Samlyn Capital LLC raised its holdings in IDEAYA Biosciences by 27.1% in the 2nd quarter. Samlyn Capital LLC now owns 611,820 shares of the company’s stock worth $21,481,000 after purchasing an additional 130,595 shares in the last quarter. 98.29% of the stock is owned by institutional investors.

IDEAYA Biosciences Stock Down 3.0 %

NASDAQ:IDYA opened at $30.73 on Wednesday. The stock has a market cap of $2.33 billion, a P/E ratio of -15.29 and a beta of 0.84. The business’s 50-day moving average price is $37.45 and its two-hundred day moving average price is $39.00. IDEAYA Biosciences has a twelve month low of $23.41 and a twelve month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). IDEAYA Biosciences had a negative return on equity of 20.52% and a negative net margin of 483.05%. During the same quarter in the previous year, the firm posted ($0.50) earnings per share. On average, equities research analysts expect that IDEAYA Biosciences will post -2.51 EPS for the current fiscal 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.