IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $52.00 at Wedbush

IDEAYA Biosciences (NASDAQ:IDYA) had its target price hoisted by stock analysts at Wedbush from $49.00 to $52.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 69.05% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Mizuho boosted their price target on IDEAYA Biosciences from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. UBS Group initiated coverage on IDEAYA Biosciences in a research report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 target price on the stock. Wall Street Zen upgraded IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Royal Bank Of Canada lifted their price target on shares of IDEAYA Biosciences from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Thursday, January 22nd. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.33.

IDEAYA Biosciences Trading Up 1.6%

IDYA stock opened at $30.76 on Wednesday. The company has a market cap of $2.70 billion, a PE ratio of -16.54 and a beta of 0.10. The stock has a 50-day moving average price of $34.30 and a two-hundred day moving average price of $30.44. IDEAYA Biosciences has a 12-month low of $13.45 and a 12-month high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.09. The business had revenue of $21.75 million during the quarter, compared to analyst estimates of $5.95 million. During the same period in the previous year, the company earned ($1.49) EPS. IDEAYA Biosciences’s revenue was up 55.7% on a year-over-year basis. Equities analysts forecast that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in IDEAYA Biosciences by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock worth $173,518,000 after purchasing an additional 97,116 shares in the last quarter. State Street Corp raised its stake in shares of IDEAYA Biosciences by 27.6% in the 4th quarter. State Street Corp now owns 4,134,641 shares of the company’s stock worth $142,935,000 after buying an additional 893,707 shares in the last quarter. Baker BROS. Advisors LP raised its stake in shares of IDEAYA Biosciences by 10.5% in the 4th quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company’s stock worth $125,103,000 after buying an additional 343,382 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of IDEAYA Biosciences by 32.6% in the fourth quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock valued at $84,256,000 after buying an additional 599,295 shares during the period. Finally, Geode Capital Management LLC boosted its stake in IDEAYA Biosciences by 1.6% during the second quarter. Geode Capital Management LLC now owns 2,113,164 shares of the company’s stock valued at $44,424,000 after buying an additional 33,286 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.