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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been given a consensus recommendation of “Buy” by the thirteen research firms that are covering the company, Marketbeat Ratings reports. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $56.00.

Several research firms recently commented on IDYA. BTIG Research boosted their price objective 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. Oppenheimer cut their price target on IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Wedbush lowered their price target on IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Tuesday, September 24th. Finally, Mizuho started coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective for the company.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its stake in IDEAYA Biosciences by 5.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock valued at $288,000 after buying an additional 332 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of IDEAYA Biosciences by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 15,275 shares of the company’s stock worth $670,000 after purchasing an additional 648 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of IDEAYA Biosciences by 38.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after purchasing an additional 927 shares during the period. Covestor Ltd boosted its holdings in shares of IDEAYA Biosciences by 9,225.0% in the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after buying an additional 1,107 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in IDEAYA Biosciences during the second quarter valued at approximately $41,000. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ:IDYA opened at $30.73 on Wednesday. The firm has a market capitalization of $2.33 billion, a P/E ratio of -15.29 and a beta of 0.84. The stock has a 50 day moving average price of $37.45 and a 200-day moving average price of $39.00. IDEAYA Biosciences has a 52-week low of $23.41 and a 52-week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.52%. During the same period in the previous year, the business posted ($0.50) EPS. On average, equities analysts forecast 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.