IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $53.58 Average Price Target from Analysts

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $53.58.

IDYA has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Stephens reissued an “overweight” rating and set a $50.00 price target on shares of IDEAYA Biosciences in a research report on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday, January 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new position in IDEAYA Biosciences in the fourth quarter valued at $47,000. Neo Ivy Capital Management acquired a new position in IDEAYA Biosciences in the fourth quarter valued at $3,361,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in IDEAYA Biosciences by 1.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 323,286 shares of the company’s stock valued at $8,308,000 after acquiring an additional 4,790 shares during the last quarter. Voloridge Investment Management LLC boosted its holdings in IDEAYA Biosciences by 50.7% in the fourth quarter. Voloridge Investment Management LLC now owns 286,759 shares of the company’s stock valued at $7,370,000 after acquiring an additional 96,466 shares during the last quarter. Finally, Woodline Partners LP boosted its holdings in IDEAYA Biosciences by 0.3% in the fourth quarter. Woodline Partners LP now owns 590,697 shares of the company’s stock valued at $15,181,000 after acquiring an additional 1,943 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $18.46 on Friday. The stock has a fifty day moving average of $22.66 and a two-hundred day moving average of $28.05. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -5.59 and a beta of 0.76. IDEAYA Biosciences has a fifty-two week low of $18.20 and a fifty-two week high of $47.44.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The business had revenue of $7.00 million during the quarter, compared to the consensus estimate of $7.00 million. On average, analysts forecast that IDEAYA Biosciences will post -3.07 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.