Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Target Price at $55.45

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has received a consensus rating of “Buy” from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $55.45.

IDYA has been the subject of a number of research reports. Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. UBS Group initiated coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price for the company. Wedbush decreased their target price on IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. BTIG Research lifted their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Oppenheimer restated an “outperform” rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ IDYA opened at $29.86 on Friday. IDEAYA Biosciences has a 1 year low of $25.22 and a 1 year high of $47.74. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -14.86 and a beta of 0.82. The stock’s 50-day simple moving average is $33.78 and its 200-day simple moving average is $37.20.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). During the same period last year, the business posted ($0.50) earnings per share. As a group, research analysts predict that IDEAYA Biosciences will post -2.48 EPS for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDYA. US Bancorp DE increased its holdings in shares of IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after buying an additional 689 shares in the last quarter. Palumbo Wealth Management LLC bought a new position in shares of IDEAYA Biosciences in the third quarter valued at $223,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of IDEAYA Biosciences by 82.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,249 shares of the company’s stock valued at $515,000 after buying an additional 7,356 shares in the last quarter. abrdn plc bought a new position in shares of IDEAYA Biosciences in the third quarter valued at $7,376,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of IDEAYA Biosciences by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock valued at $94,000 after buying an additional 796 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

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.