Brokerages Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) PT at $50.12

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $50.1250.

Several equities research analysts recently commented on IDYA shares. Truist Financial dropped their target price on IDEAYA Biosciences from $63.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Mizuho decreased their price target on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Friday, July 17th. Royal Bank Of Canada lowered their price objective on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Finally, Wedbush lifted their price objective on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA opened at $36.54 on Friday. The business’s 50-day moving average is $35.30 and its two-hundred day moving average is $32.71. The firm has a market capitalization of $3.21 billion, a PE ratio of -18.84 and a beta of -0.10. IDEAYA Biosciences has a 12 month low of $23.23 and a 12 month high of $40.58.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.16). IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%.The company had revenue of $8.86 million during the quarter, compared to analysts’ expectations of $8.02 million. During the same period in the previous year, the company earned ($0.88) EPS. IDEAYA Biosciences’s quarterly revenue was up 8800.0% on a year-over-year basis. Equities analysts anticipate that IDEAYA Biosciences will post -4.38 EPS for the current year.

Insider Buying and Selling at IDEAYA Biosciences

In related news, CAO Briseno Andres Ruiz sold 9,550 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction of $382,095.50. Following the completion of the sale, the chief accounting officer directly owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDYA. Farther Finance Advisors LLC boosted its position in IDEAYA Biosciences by 171.1% in the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after buying an additional 580 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its position in shares of 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 during the last quarter. Quantbot Technologies LP purchased a new stake in shares of IDEAYA Biosciences during the second quarter worth about $43,000. Global Retirement Partners LLC purchased a new stake in shares of IDEAYA Biosciences during the fourth quarter worth about $61,000. Finally, Daiwa Securities Group Inc. lifted 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 worth $66,000 after acquiring an additional 436 shares in the last quarter. Hedge funds and other 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.