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

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been assigned an average recommendation of “Buy” from the thirteen brokerages that are currently covering the company, MarketBeat reports. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $56.00.

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Citigroup cut their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Mizuho assumed coverage on IDEAYA Biosciences in a report on Monday, July 8th. They set an “outperform” rating and a $50.00 target price on the stock. Finally, BTIG Research boosted their price target on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of institutional investors have recently bought and sold shares of IDYA. Quest Partners LLC purchased a new stake in IDEAYA Biosciences during the second quarter valued at about $41,000. Covestor Ltd raised its holdings in shares of IDEAYA Biosciences by 9,225.0% during the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after acquiring an additional 1,107 shares during the period. Comerica Bank lifted its position in shares of IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after acquiring an additional 1,324 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in IDEAYA Biosciences in the 1st quarter worth approximately $67,000. Finally, Daiwa Securities Group Inc. grew its position in IDEAYA Biosciences by 637.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after purchasing an additional 1,684 shares in the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $31.06 on Wednesday. IDEAYA Biosciences has a one year low of $23.41 and a one year high of $47.74. The stock’s fifty day moving average is $36.48 and its 200-day moving average is $38.59. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -15.45 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.52%. During the same quarter last year, the firm posted ($0.50) EPS. Analysts forecast that IDEAYA Biosciences will post -2.51 EPS for the current fiscal year.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.