IDEAYA Biosciences (NASDAQ:IDYA) Earns “Outperform” Rating from Wedbush

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “outperform” rating restated by Wedbush in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $52.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 60.10% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. UBS Group began coverage on shares of IDEAYA Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Citigroup increased their target price 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. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $49.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, February 18th. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.69.

IDEAYA Biosciences Stock Performance

IDYA opened at $32.48 on Tuesday. The company has a market capitalization of $2.85 billion, a PE ratio of -24.79 and a beta of 0.02. The stock’s fifty day moving average is $32.80 and its 200-day moving average is $32.18. IDEAYA Biosciences has a one year low of $13.45 and a one year high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, February 17th. The company reported ($0.94) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.09. The firm had revenue of $21.75 million for the quarter, compared to the consensus estimate of $5.95 million. During the same period in the prior year, the business earned ($1.49) EPS. The company’s quarterly revenue was up 55.7% compared to the same quarter last year. On average, equities research analysts forecast that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey Stein acquired 50,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were purchased at an average price of $32.96 per share, for a total transaction of $1,648,000.00. Following the acquisition, the director owned 54,281 shares in the company, valued at approximately $1,789,101.76. This represents a 1,167.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IDYA. Arizona State Retirement System increased 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 in the last quarter. ANTIPODES PARTNERS Ltd lifted its position in shares of IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after acquiring an additional 380 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of IDEAYA Biosciences by 16.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after acquiring an additional 436 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in IDEAYA Biosciences by 5.2% in the 4th quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock worth $335,000 after purchasing an additional 476 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in IDEAYA Biosciences by 16.1% in the 3rd 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 during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.