IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $53.67 Consensus Price Target from Brokerages

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

Several analysts have issued reports on the company. Oppenheimer restated an “outperform” rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Wedbush restated an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th.

Institutional Investors Weigh In On IDEAYA Biosciences

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its holdings in shares of IDEAYA Biosciences by 800.0% in the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 800 shares in the last quarter. Covestor Ltd raised its stake in IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after purchasing an additional 922 shares in the last quarter. Quest Partners LLC bought a new stake in shares of IDEAYA Biosciences during the 2nd quarter worth $41,000. US Bancorp DE lifted its stake in IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after purchasing an additional 689 shares during the last quarter. Finally, Comerica Bank boosted its stake in IDEAYA Biosciences by 723.5% in the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after buying an additional 1,324 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ:IDYA opened at $25.61 on Monday. The company has a market capitalization of $2.21 billion, a P/E ratio of -10.99 and a beta of 0.79. The company’s 50-day moving average is $28.28 and its 200 day moving average is $33.98. IDEAYA Biosciences has a fifty-two week low of $24.48 and a fifty-two week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the previous year, the firm earned ($0.46) earnings per share. As a group, research analysts predict 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.