Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Price Target at $45.50

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has received an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $45.50.

IDYA has been the subject of a number of research analyst reports. Citizens Jmp began coverage on IDEAYA Biosciences in a research note on Thursday, September 4th. They issued a “mkt outperform” rating and a $41.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Royal Bank Of Canada raised their price objective on IDEAYA Biosciences from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group boosted their price objective on shares of IDEAYA Biosciences from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Finally, Barclays began coverage on shares of IDEAYA Biosciences in a research note on Thursday, September 4th. They set an “overweight” rating and a $40.00 target price for the company.

IDEAYA Biosciences Trading Up 1.0%

NASDAQ:IDYA opened at $32.14 on Thursday. The company has a 50-day moving average price of $28.11 and a 200-day moving average price of $24.18. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -17.28 and a beta of 0.14. IDEAYA Biosciences has a 12 month low of $13.45 and a 12 month high of $33.64.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $1.45. The company had revenue of $207.83 million during the quarter, compared to the consensus estimate of $59.98 million. Equities analysts forecast that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds have recently added to or reduced their stakes in IDYA. Aster Capital Management DIFC Ltd bought a new position in shares of IDEAYA Biosciences during the third quarter valued at $38,000. Abich Financial Wealth Management LLC bought a new stake in shares of IDEAYA Biosciences during the third quarter valued at approximately $58,000. CWM LLC lifted its position in IDEAYA Biosciences by 325.7% in the 1st quarter. CWM LLC now owns 2,371 shares of the company’s stock valued at $39,000 after acquiring an additional 1,814 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in IDEAYA Biosciences by 180.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company’s stock valued at $39,000 after acquiring an additional 1,546 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in IDEAYA Biosciences by 374.8% during the 1st quarter. Signaturefd LLC now owns 2,877 shares of the company’s stock valued at $47,000 after purchasing an additional 2,271 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

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.