IDEAYA Biosciences (NASDAQ:IDYA) Research Coverage Started at UBS Group

UBS Group began coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report sent to investors on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $50.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price objective on IDEAYA Biosciences from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. BTIG Research reissued a “buy” rating and set a $62.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, October 21st. Truist Financial boosted their price target on IDEAYA Biosciences from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 9th. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.33.

IDEAYA Biosciences Stock Up 2.6%

NASDAQ:IDYA opened at $37.38 on Wednesday. The company has a market cap of $3.28 billion, a P/E ratio of -20.10 and a beta of 0.05. IDEAYA Biosciences has a twelve month low of $13.45 and a twelve month high of $39.28. The business has a 50 day moving average price of $34.01 and a two-hundred day moving average price of $28.24.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $1.45. The business had revenue of $207.83 million during the quarter, compared to analyst estimates of $59.98 million. As a group, analysts anticipate that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of IDEAYA Biosciences in the third quarter valued at $38,000. Abich Financial Wealth Management LLC bought a new stake in shares of IDEAYA Biosciences during the 3rd quarter worth about $58,000. Elevation Point Wealth Partners LLC bought a new stake in shares of IDEAYA Biosciences during the 2nd quarter worth about $61,000. CWM LLC grew its stake in IDEAYA Biosciences by 33.0% in the 2nd quarter. CWM LLC now owns 3,153 shares of the company’s stock valued at $66,000 after buying an additional 782 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in 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 acquiring an additional 436 shares during the period. 98.29% of the stock is owned by institutional investors.

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.