IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $54.27 Average Price Target from Analysts

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $54.27.

Separately, JPMorgan Chase & Co. increased their target price on IDEAYA Biosciences from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, May 22nd.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of large investors have recently modified their holdings of the business. CWM LLC grew its holdings in shares of IDEAYA Biosciences by 325.7% in the 1st quarter. CWM LLC now owns 2,371 shares of the company’s stock worth $39,000 after acquiring an additional 1,814 shares during the period. PNC Financial Services Group Inc. raised its position in shares of IDEAYA Biosciences by 180.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company’s stock worth $39,000 after buying an additional 1,546 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of IDEAYA Biosciences in the 4th quarter worth $47,000. Signaturefd LLC raised its position in shares of IDEAYA Biosciences by 374.8% in the 1st quarter. Signaturefd LLC now owns 2,877 shares of the company’s stock worth $47,000 after buying an additional 2,271 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of IDEAYA Biosciences by 44.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock worth $72,000 after buying an additional 853 shares during the period. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $21.86 on Monday. IDEAYA Biosciences has a fifty-two week low of $13.45 and a fifty-two week high of $44.42. The company has a market capitalization of $1.91 billion, a P/E ratio of -6.09 and a beta of 0.04. The stock has a 50-day simple moving average of $19.34 and a 200-day simple moving average of $21.05.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.07). During the same quarter in the previous year, the firm earned ($0.53) earnings per share. As a group, analysts forecast that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

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.