IDEAYA Biosciences (NASDAQ:IDYA) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report report published on Friday,Benzinga reports. Wedbush currently has a $58.00 target price on the stock.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Wall Street Zen lowered IDEAYA Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Royal Bank Of Canada upped their target price on IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Truist Financial set a $65.00 target price on IDEAYA Biosciences in a report on Monday, April 13th. Finally, Guggenheim upped their target price on IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.69.

IDEAYA Biosciences Price Performance

IDYA stock opened at $28.98 on Friday. The company has a market capitalization of $2.55 billion, a P/E ratio of -18.11 and a beta of -0.05. The business has a 50-day moving average price of $29.89 and a 200 day moving average price of $32.49. IDEAYA Biosciences has a 1-year low of $20.50 and a 1-year high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The firm had revenue of $6.56 million during the quarter, compared to analyst estimates of $5.04 million. IDEAYA Biosciences’s revenue for the quarter was down 39.4% on a year-over-year basis. During the same period last year, the firm posted ($0.82) earnings per share. On average, analysts anticipate that IDEAYA Biosciences will post -4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in IDEAYA Biosciences by 171.1% in the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after buying an additional 580 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its stake in IDEAYA Biosciences by 49.4% during 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. Aster Capital Management DIFC Ltd bought a new stake in IDEAYA Biosciences during the 3rd quarter valued at $38,000. Global Retirement Partners LLC bought a new stake in IDEAYA Biosciences during the 4th quarter valued at $61,000. Finally, Abich Financial Wealth Management LLC bought a new stake in IDEAYA Biosciences during the 3rd quarter valued at $58,000. Institutional investors and hedge funds 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.