IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have received a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and fifteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $50.6875.

Several research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Tuesday, April 21st. Guggenheim increased their price objective on IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. The Goldman Sachs Group increased their price objective on IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Wedbush reiterated an “outperform” rating and set a $58.00 price objective on shares of IDEAYA Biosciences in a research note on Friday, June 12th. Finally, Truist Financial set a $65.00 price objective on IDEAYA Biosciences in a research note on Monday, April 13th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd raised its stake in IDEAYA Biosciences by 49.4% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after acquiring an additional 380 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of IDEAYA Biosciences by 16.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after buying an additional 436 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of IDEAYA Biosciences by 5.2% in the fourth quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock valued at $335,000 after buying an additional 476 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of IDEAYA Biosciences by 16.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company’s stock valued at $106,000 after buying an additional 537 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of IDEAYA Biosciences by 171.1% in the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after buying an additional 580 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $37.27 on Friday. The stock has a market cap of $3.27 billion, a P/E ratio of -23.29 and a beta of -0.05. IDEAYA Biosciences has a one year low of $20.50 and a one year high of $39.28. The stock has a fifty day moving average price of $30.33 and a 200 day moving average price of $32.38.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, May 5th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The company had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $5.04 million. During the same period in the prior year, the business posted ($0.82) earnings per share. IDEAYA Biosciences’s revenue for the quarter was down 39.4% compared to the same quarter last year. Equities research analysts anticipate that IDEAYA Biosciences will post -4.13 EPS for the current year.

About IDEAYA Biosciences

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.