Brokerages Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Target Price at $46.40

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $46.40.

Several brokerages have recently commented on IDYA. Wall Street Zen raised IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Royal Bank Of Canada lifted their price objective on IDEAYA Biosciences from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Guggenheim assumed coverage on IDEAYA Biosciences in a report on Thursday, September 18th. They issued a “buy” rating and a $50.00 target price on the stock. Oppenheimer set a $36.00 price target on IDEAYA Biosciences and gave the company an “outperform” rating in a research report on Monday, September 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $62.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 21st.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ IDYA opened at $33.64 on Monday. The company’s fifty day moving average is $31.35 and its two-hundred day moving average is $26.19. The firm has a market capitalization of $2.95 billion, a P/E ratio of -18.09 and a beta of 0.04. IDEAYA Biosciences has a one year low of $13.45 and a one year high of $37.08.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of ($0.12) by $1.45. The company had revenue of $207.83 million during the quarter, compared to analyst estimates of $59.98 million. On average, sell-side analysts forecast that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Large investors have recently modified their holdings of the business. State of New Jersey Common Pension Fund D grew its holdings in IDEAYA Biosciences by 11.1% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 100,827 shares of the company’s stock valued at $2,119,000 after buying an additional 10,047 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of IDEAYA Biosciences by 19.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 13,787 shares of the company’s stock worth $290,000 after acquiring an additional 2,227 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of IDEAYA Biosciences in the first quarter valued at $195,000. Creative Planning boosted its stake in shares of IDEAYA Biosciences by 99.4% during the second quarter. Creative Planning now owns 121,684 shares of the company’s stock valued at $2,558,000 after acquiring an additional 60,667 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of IDEAYA Biosciences by 0.8% during the first quarter. Swiss National Bank now owns 150,800 shares of the company’s stock valued at $2,470,000 after acquiring an additional 1,200 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

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.