IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $52.46 Consensus PT from Brokerages

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $52.6923.

IDYA has been the subject of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 1st. Guggenheim raised their target price on shares of IDEAYA Biosciences from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank Of Canada dropped their target price on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Wedbush boosted their price target on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd.

Insider Transactions at IDEAYA Biosciences

In related news, CAO Andres Ruiz Briseno sold 9,550 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the transaction, the chief accounting officer directly owned 26,466 shares in the company, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds have recently added to or reduced their stakes in IDYA. ANTIPODES PARTNERS Ltd boosted its holdings in shares of IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock worth $40,000 after purchasing an additional 380 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of IDEAYA Biosciences by 16.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock valued at $66,000 after buying an additional 436 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of IDEAYA Biosciences by 5.2% during the 4th quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock valued at $335,000 after buying an additional 476 shares in the last quarter. Versant Capital Management Inc lifted its position in IDEAYA Biosciences by 26.7% in the 2nd quarter. Versant Capital Management Inc now owns 2,825 shares of the company’s stock worth $105,000 after buying an additional 596 shares during the last quarter. Finally, Comerica Bank lifted its position in IDEAYA Biosciences by 36.5% in the 4th quarter. Comerica Bank now owns 2,514 shares of the company’s stock worth $87,000 after buying an additional 672 shares during the last quarter. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock opened at $37.59 on Wednesday. The company has a market capitalization of $3.30 billion, a PE ratio of -19.38 and a beta of -0.07. IDEAYA Biosciences has a 52-week low of $24.24 and a 52-week high of $42.68. The business’s fifty day moving average is $37.73 and its 200 day moving average is $33.70.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, August 4th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The business had revenue of $8.86 million for the quarter, compared to analysts’ expectations of $8.02 million. IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%.IDEAYA Biosciences’s quarterly revenue was up 8800.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.88) earnings per share. On average, sell-side analysts forecast that IDEAYA Biosciences will post -4.38 EPS for the current fiscal year.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for cancer. The company uses insights from tumor genetics and synthetic lethality—the targeting of vulnerabilities created by specific genetic alterations—to identify therapies intended for molecularly defined patient populations.

IDEAYA’s investigational pipeline includes darovasertib (IDE196), a protein kinase C inhibitor being studied in genetically defined cancers, including metastatic uveal melanoma associated with GNAQ or GNA11 mutations.