IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $50.6875.

IDYA has been the subject of several research analyst reports. Wall Street Zen lowered IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Tuesday, April 21st. Wells Fargo & Company lifted their price objective on IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Truist Financial set a $65.00 price objective on IDEAYA Biosciences in a research note on Monday, April 13th. Finally, Citigroup lifted their price target on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA opened at $29.47 on Monday. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -18.42 and a beta of -0.04. IDEAYA Biosciences has a 52-week low of $19.26 and a 52-week high of $39.28. The stock has a fifty day moving average of $30.51 and a 200 day moving average of $32.77.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The company had revenue of $6.56 million during the quarter, compared to the consensus estimate of $5.04 million. The business’s revenue for the quarter was down 39.4% compared to the same quarter last year. During the same period last year, the company earned ($0.82) earnings per share. Equities analysts forecast that IDEAYA Biosciences will post -4.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds have recently added to or reduced their stakes in IDYA. Iron Triangle Partners LP purchased a new position in shares of IDEAYA Biosciences in the third quarter worth about $7,347,000. Envestnet Asset Management Inc. increased its holdings in shares of IDEAYA Biosciences by 174.0% in the third quarter. Envestnet Asset Management Inc. now owns 299,032 shares of the company’s stock worth $8,137,000 after buying an additional 189,877 shares during the period. Candriam S.C.A. increased its holdings in shares of IDEAYA Biosciences by 10.8% in the third quarter. Candriam S.C.A. now owns 1,012,967 shares of the company’s stock worth $27,563,000 after buying an additional 98,567 shares during the period. Cinctive Capital Management LP increased its holdings in shares of IDEAYA Biosciences by 193.9% in the third quarter. Cinctive Capital Management LP now owns 49,946 shares of the company’s stock worth $1,359,000 after buying an additional 32,953 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in shares of IDEAYA Biosciences in the third quarter worth about $1,023,000. Institutional investors own 98.29% of the company’s stock.

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.