IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $50.6875.

Several research firms recently commented on IDYA. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Tuesday, April 21st. Royal Bank Of Canada raised their target price on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Wells Fargo & Company boosted their price target on IDEAYA Biosciences from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. Guggenheim boosted their price target on IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Mizuho cut their price target on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th.

IDEAYA Biosciences Trading Up 0.0%

Shares of IDEAYA Biosciences stock opened at $36.29 on Friday. IDEAYA Biosciences has a 12 month low of $20.50 and a 12 month high of $39.28. The firm has a market capitalization of $3.19 billion, a P/E ratio of -22.68 and a beta of -0.05. The business has a fifty day simple moving average of $30.09 and a two-hundred day simple moving average of $32.33.

IDEAYA Biosciences (NASDAQ:IDYA) last released its 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 firm had revenue of $6.56 million for the quarter, compared to analysts’ expectations of $5.04 million. IDEAYA Biosciences’s revenue for the quarter was down 39.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.82) earnings per share. Analysts predict that IDEAYA Biosciences will post -4.13 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its holdings in shares of IDEAYA Biosciences by 1.1% during the first quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company’s stock valued at $242,023,000 after acquiring an additional 78,797 shares in the last quarter. Vanguard Group Inc. boosted its stake in IDEAYA Biosciences by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock worth $173,518,000 after purchasing an additional 97,116 shares in the last quarter. State Street Corp grew its position in IDEAYA Biosciences by 27.6% during the 4th quarter. State Street Corp now owns 4,134,641 shares of the company’s stock valued at $142,935,000 after purchasing an additional 893,707 shares during the last quarter. Baker BROS. Advisors LP increased its stake in IDEAYA Biosciences by 10.5% during the 4th quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company’s stock valued at $125,103,000 after purchasing an additional 343,382 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in IDEAYA Biosciences by 32.6% during the 4th quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock valued at $84,256,000 after purchasing an additional 599,295 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.