Brokerages Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Target Price at $48.69

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $48.6875.

A number of brokerages have weighed in on IDYA. Guggenheim reiterated a “buy” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. Wall Street Zen lowered shares of IDEAYA Biosciences from a “buy” rating to a “sell” rating in a research report on Saturday, February 21st. UBS Group began coverage on shares of IDEAYA Biosciences in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Finally, Citigroup lifted their price objective on shares of IDEAYA Biosciences from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, February 19th.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA opened at $32.73 on Wednesday. The stock has a market capitalization of $2.87 billion, a PE ratio of -24.98 and a beta of 0.09. IDEAYA Biosciences has a one year low of $13.45 and a one year high of $39.28. The business’s fifty day moving average price is $33.50 and its 200-day moving average price is $31.77.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.09. The firm had revenue of $21.75 million during the quarter, compared to analysts’ expectations of $5.95 million. During the same period last year, the business posted ($1.49) EPS. The company’s revenue was up 55.7% compared to the same quarter last year. As a group, equities analysts expect that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In related news, Director Jeffrey Stein purchased 50,000 shares of IDEAYA Biosciences stock in a transaction dated Monday, March 2nd. The stock was bought at an average cost of $32.96 per share, for a total transaction of $1,648,000.00. Following the completion of the transaction, the director owned 54,281 shares in the company, valued at $1,789,101.76. This trade represents a 1,167.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its holdings in IDEAYA Biosciences by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 23,324 shares of the company’s stock valued at $635,000 after buying an additional 353 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in shares of IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after buying an additional 380 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of IDEAYA Biosciences by 16.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after buying an additional 436 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of IDEAYA Biosciences by 5.2% in the fourth quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock valued at $335,000 after acquiring an additional 476 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of IDEAYA Biosciences by 16.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company’s stock valued at $106,000 after acquiring an additional 537 shares during the period. Hedge funds and other 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.