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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA – Get Rating) has been given a consensus rating of “Buy” by the ten research firms that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued a report on the stock in the last year is $29.11.

Several analysts have issued reports on the company. Oppenheimer upped their target price on IDEAYA Biosciences from $26.00 to $30.00 in a research note on Monday, April 24th. TheStreet upgraded IDEAYA Biosciences from a “d+” rating to a “c” rating in a research report on Monday, May 15th. Citigroup boosted their price objective on IDEAYA Biosciences from $26.00 to $29.00 in a research report on Friday, March 17th. Guggenheim boosted their price objective on IDEAYA Biosciences from $32.00 to $40.00 in a research report on Monday, April 24th. Finally, Berenberg Bank started coverage on IDEAYA Biosciences in a research report on Thursday, March 23rd. They issued a “buy” rating and a $26.00 price objective for the company.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd grew its stake in shares of IDEAYA Biosciences by 363.7% in the first quarter. Point72 Hong Kong Ltd now owns 3,376 shares of the company’s stock worth $38,000 after acquiring an additional 2,648 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of IDEAYA Biosciences by 66.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,847 shares of the company’s stock worth $39,000 after acquiring an additional 1,136 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of IDEAYA Biosciences by 90.5% in the first quarter. Quantbot Technologies LP now owns 4,000 shares of the company’s stock worth $44,000 after acquiring an additional 1,900 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of IDEAYA Biosciences in the fourth quarter worth $49,000. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of IDEAYA Biosciences by 39.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,743 shares of the company’s stock worth $50,000 after acquiring an additional 774 shares during the last quarter. 94.20% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Trading Up 2.7 %

Shares of NASDAQ IDYA opened at $21.77 on Friday. IDEAYA Biosciences has a 12 month low of $9.00 and a 12 month high of $22.85. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -14.32 and a beta of 0.85. The business has a 50-day moving average of $16.73 and a 200-day moving average of $17.14.

IDEAYA Biosciences (NASDAQ:IDYA – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.03. The company had revenue of $7.90 million during the quarter, compared to analyst estimates of $5.38 million. IDEAYA Biosciences had a negative return on equity of 20.67% and a negative net margin of 143.90%. The business’s revenue was up 97.5% compared to the same quarter last year. On average, analysts predict that IDEAYA Biosciences will post -2.05 earnings per share for the current year.

About IDEAYA Biosciences

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IDEAYA Biosciences, Inc engages in the research and development of oncology-focused precision medicine. The firm focuses on the targeted therapeutics for patients selected using molecular diagnostics. Its product candidate, IDE196, is a protein kinase C inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.