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

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have earned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $46.00.

IDYA has been the subject of a number of analyst reports. Mizuho increased their target price on shares of IDEAYA Biosciences from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. increased their price objective on IDEAYA Biosciences from $74.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Citizens Jmp began coverage on IDEAYA Biosciences in a research note on Thursday, September 4th. They set a “mkt outperform” rating and a $41.00 target price on the stock. Stephens restated an “overweight” rating and set a $45.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Finally, New Street Research set a $30.00 price target on IDEAYA Biosciences in a research note on Tuesday, October 21st.

IDEAYA Biosciences Price Performance

IDYA opened at $34.57 on Friday. IDEAYA Biosciences has a 1 year low of $13.45 and a 1 year high of $37.08. The stock’s 50 day simple moving average is $33.48 and its 200 day simple moving average is $27.64. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -18.59 and a beta of 0.05.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $1.45. The firm had revenue of $207.83 million for the quarter, compared to analysts’ expectations of $59.98 million. As a group, sell-side analysts anticipate that IDEAYA Biosciences will post -3.07 EPS for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of large investors have recently modified their holdings of the stock. Arizona State Retirement System raised its stake in IDEAYA Biosciences by 1.5% in the third quarter. Arizona State Retirement System now owns 23,324 shares of the company’s stock worth $635,000 after buying an additional 353 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of IDEAYA Biosciences by 16.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after acquiring an additional 436 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of IDEAYA Biosciences by 16.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company’s stock worth $106,000 after acquiring an additional 537 shares during the period. CWM LLC raised its position in shares of IDEAYA Biosciences by 33.0% in the 2nd quarter. CWM LLC now owns 3,153 shares of the company’s stock worth $66,000 after acquiring an additional 782 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted its stake in shares of IDEAYA Biosciences by 7.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company’s stock valued at $257,000 after purchasing an additional 881 shares during the period. Institutional investors own 98.29% of the company’s stock.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.