Brokerages Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Price Target at $50.69

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $50.6875.

A number of analysts have recently issued reports on IDYA shares. Truist Financial set a $65.00 price objective on IDEAYA Biosciences in a research report on Monday, April 13th. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Tuesday, April 21st. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Wedbush restated an “outperform” rating and set a $58.00 target price on shares of IDEAYA Biosciences in a research report on Friday, June 12th. Finally, The Goldman Sachs Group increased their price objective on shares of IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th.

Hedge Funds Weigh In On IDEAYA Biosciences

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

IDEAYA Biosciences Stock Up 4.1%

Shares of NASDAQ:IDYA opened at $37.65 on Friday. The business has a 50 day moving average price of $30.50 and a 200 day moving average price of $32.42. The company has a market cap of $3.31 billion, a price-to-earnings ratio of -23.53 and a beta of -0.09. IDEAYA Biosciences has a twelve month low of $20.99 and a twelve month high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The company had revenue of $6.56 million for the quarter, compared to analyst estimates of $5.04 million. During the same quarter in the prior year, the business earned ($0.82) earnings per share. The company’s revenue for the quarter was down 39.4% compared to the same quarter last year. Analysts anticipate that IDEAYA Biosciences will post -4.13 EPS for the current year.

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.