IDEAYA Biosciences (NASDAQ:IDYA) Price Target Lowered to $63.00 at Truist Financial

IDEAYA Biosciences (NASDAQ:IDYA) had its target price lowered by investment analysts at Truist Financial from $65.00 to $63.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 60.02% from the company’s current price.

IDYA has been the subject of a number of other reports. Mizuho decreased their target price on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a research note on Tuesday, June 2nd. Royal Bank Of Canada lifted their price objective on IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Tuesday, April 21st. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.56.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $39.37 on Tuesday. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -24.61 and a beta of -0.09. IDEAYA Biosciences has a 1 year low of $20.99 and a 1 year high of $39.51. The firm has a 50-day moving average of $30.62 and a two-hundred day moving average of $32.45.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, May 5th. The company reported ($1.11) EPS 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 analyst estimates of $5.04 million. During the same quarter in the previous year, the business posted ($0.82) earnings per share. The business’s revenue for the quarter was down 39.4% on a year-over-year basis. Research analysts expect that IDEAYA Biosciences will post -4.13 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in IDYA. ANTIPODES PARTNERS Ltd raised its holdings in IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after purchasing an additional 380 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings 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 buying an additional 436 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of 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 buying an additional 476 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of IDEAYA Biosciences by 171.1% during the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after acquiring an additional 580 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of IDEAYA Biosciences by 26.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,825 shares of the company’s stock worth $105,000 after acquiring an additional 596 shares in the last quarter. Hedge funds and other 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.