IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $48.00 at Wells Fargo & Company

IDEAYA Biosciences (NASDAQ:IDYA) had its target price increased by Wells Fargo & Company from $44.00 to $48.00 in a report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

IDYA has been the subject of several other research reports. Royal Bank Of Canada raised their price objective on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup raised their price objective on shares of IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Guggenheim lifted their price objective on IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen downgraded IDEAYA Biosciences from a “buy” rating to a “sell” rating in a research report on Saturday, February 21st. Finally, Wedbush upped their price objective on shares of IDEAYA Biosciences from $52.00 to $58.00 and gave the company an “outperform” rating in a research note on Tuesday. Fifteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, IDEAYA Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $50.44.

IDEAYA Biosciences Stock Down 1.4%

Shares of NASDAQ IDYA opened at $32.35 on Tuesday. IDEAYA Biosciences has a 52 week low of $15.84 and a 52 week high of $39.28. The firm has a 50-day moving average price of $32.38 and a 200 day moving average price of $32.62. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -24.69 and a beta of 0.02.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.09. The company had revenue of $10.88 million during the quarter, compared to analyst estimates of $5.95 million. During the same quarter last year, the business earned ($1.49) EPS. The firm’s revenue for the quarter was up 55.7% on a year-over-year basis. Equities research analysts expect that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeffrey Stein acquired 50,000 shares of IDEAYA Biosciences stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average price of $32.96 per share, with a total value of $1,648,000.00. Following the completion of the purchase, the director owned 54,281 shares of the company’s stock, valued at approximately $1,789,101.76. This represents a 1,167.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On IDEAYA Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. Iron Triangle Partners LP purchased a new position in shares of IDEAYA Biosciences during the third quarter valued at approximately $7,347,000. General American Investors Co. Inc. increased its position in IDEAYA Biosciences by 7.7% during the third quarter. General American Investors Co. Inc. now owns 280,261 shares of the company’s stock worth $7,626,000 after purchasing an additional 20,000 shares during the last quarter. Candriam S.C.A. increased its position in IDEAYA Biosciences by 10.8% during the third quarter. Candriam S.C.A. now owns 1,012,967 shares of the company’s stock worth $27,563,000 after purchasing an additional 98,567 shares during the last quarter. Cinctive Capital Management LP increased its position in IDEAYA Biosciences by 193.9% during the third quarter. Cinctive Capital Management LP now owns 49,946 shares of the company’s stock worth $1,359,000 after purchasing an additional 32,953 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in IDEAYA Biosciences by 174.0% during the third quarter. Envestnet Asset Management Inc. now owns 299,032 shares of the company’s stock worth $8,137,000 after purchasing an additional 189,877 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Key IDEAYA Biosciences News

Here are the key news stories impacting IDEAYA Biosciences this week:

• Positive Sentiment: Positive topline registrational data from the OptimUM-02 Phase 2/3 trial: darovasertib + crizotinib improved median PFS to 6.9 months vs. 3.1 months for control (HR 0.42; 95% CI: 0.30–0.59), meeting the primary endpoint — a result that supports regulatory and commercial upside in metastatic uveal melanoma. PR Newswire
• Positive Sentiment: Market reaction/press coverage pushed the stock sharply higher overnight and in early trading as outlets reported the trial success, creating momentum and heightened investor attention. Investing.com article
• Positive Sentiment: Several firms raised price targets and issued bullish ratings after the data — notable raises include Wedbush to $58 (Outperform), Wells Fargo to $48 (Overweight) and Guggenheim to $54 (Buy) — signaling significant analyst upside expectations. Benzinga The Fly
• Neutral Sentiment: Goldman Sachs raised its price target to $35 but kept a “Neutral” rating — a reminder that not all sell-side desks expect an immediate re-rating into the highest target bands. Benzinga
• Negative Sentiment: Analyst/media caveats and regulatory risk remain — some commentary notes that approval and commercialization are not automatic despite strong PFS, so development and labeling/regulatory paths still carry execution risk. Seeking Alpha
• Negative Sentiment: Profit‑taking and volatility after the sizable overnight rally are likely driving the intraday pullback despite the positive fundamentals — volume is elevated and short-term traders may be locking gains.

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.