Wedbush Issues Positive Forecast for IDEAYA Biosciences (NASDAQ:IDYA) Stock Price

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective upped by Wedbush from $52.00 to $58.00 in a research note published on Tuesday morning, Marketbeat.com reports. They currently have an outperform rating on the stock.

A number of other research firms also recently issued reports on IDYA. Wall Street Zen downgraded shares of IDEAYA Biosciences from a “buy” rating to a “sell” rating in a research report on Saturday, February 21st. Royal Bank Of Canada boosted their target price on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Thursday, January 22nd. Citigroup boosted their target price on shares of IDEAYA Biosciences from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Finally, Truist Financial set a $65.00 target price on shares of IDEAYA Biosciences in a research report on Monday. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $50.44.

IDEAYA Biosciences Trading Down 1.4%

NASDAQ:IDYA opened at $32.35 on Tuesday. IDEAYA Biosciences has a 12 month low of $15.84 and a 12 month high of $39.28. The firm has a fifty day simple moving average of $32.38 and a 200-day simple moving average of $32.62. The company has a market capitalization of $2.84 billion, a P/E ratio of -24.69 and a beta of 0.02.

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

Insider Transactions at IDEAYA Biosciences

In other news, Director Jeffrey Stein acquired 50,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average price 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 approximately $1,789,101.76. The trade was a 1,167.95% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of 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 acquiring an additional 353 shares during the period. ANTIPODES PARTNERS Ltd raised its position 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 acquiring an additional 380 shares during the period. Daiwa Securities Group Inc. raised its position 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 acquiring an additional 436 shares during the period. Russell Investments Group Ltd. increased its stake in shares of IDEAYA Biosciences by 5.2% during the fourth quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock worth $335,000 after purchasing an additional 476 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of IDEAYA Biosciences by 16.1% during the third quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company’s stock worth $106,000 after purchasing an additional 537 shares in the last quarter. Institutional investors and hedge funds 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.

IDEAYA Biosciences Company Profile

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.