IDEAYA Biosciences (NASDAQ:IDYA) Upgraded at Wall Street Zen

IDEAYA Biosciences (NASDAQ:IDYA) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other brokerages have also weighed in on IDYA. Mizuho lowered their price target on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Guggenheim raised their price target on IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Citigroup reissued a “market outperform” rating on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Finally, Truist Financial set a $65.00 price objective on IDEAYA Biosciences in a report on Monday, April 13th. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.69.

IDEAYA Biosciences Stock Up 0.5%

IDEAYA Biosciences stock opened at $28.98 on Friday. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -18.11 and a beta of -0.05. The stock has a 50-day simple moving average of $29.89 and a 200 day simple moving average of $32.49. IDEAYA Biosciences has a 12-month low of $20.50 and a 12-month high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The company had revenue of $6.56 million for the quarter, compared to analyst estimates of $5.04 million. IDEAYA Biosciences’s quarterly revenue was down 39.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.82) earnings per share. As a group, sell-side analysts anticipate that IDEAYA Biosciences will post -4.27 EPS for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its holdings in IDEAYA Biosciences by 171.1% during the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after buying an additional 580 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in IDEAYA Biosciences by 49.4% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after buying an additional 380 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in IDEAYA Biosciences during the third quarter worth about $38,000. Global Retirement Partners LLC bought a new position in IDEAYA Biosciences during the fourth quarter worth about $61,000. Finally, Abich Financial Wealth Management LLC bought a new position in IDEAYA Biosciences during the third quarter worth about $58,000. Institutional investors own 98.29% of the company’s stock.

About IDEAYA Biosciences

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.