IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

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

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

Hedge Funds Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of IDYA. FMR LLC increased its position in IDEAYA Biosciences by 2.6% during the 4th quarter. FMR LLC now owns 12,963,151 shares of the company’s stock worth $333,153,000 after purchasing an additional 327,498 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of IDEAYA Biosciences by 13.5% in the fourth quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company’s stock worth $150,606,000 after acquiring an additional 695,263 shares in the last quarter. Vanguard Group Inc. increased its position in shares of IDEAYA Biosciences by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company’s stock worth $130,507,000 after acquiring an additional 282,936 shares in the last quarter. State Street Corp raised its stake in shares of IDEAYA Biosciences by 15.4% in the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after acquiring an additional 443,640 shares during the period. Finally, Deerfield Management Company L.P. Series C lifted its holdings in shares of IDEAYA Biosciences by 5.5% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,736,000 shares of the company’s stock valued at $70,315,000 after acquiring an additional 142,000 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Stock Down 2.2 %

IDYA opened at $17.05 on Wednesday. The business’s fifty day simple moving average is $20.80 and its 200 day simple moving average is $25.77. IDEAYA Biosciences has a 52 week low of $16.88 and a 52 week high of $44.42. The firm has a market cap of $1.49 billion, a P/E ratio of -5.17 and a beta of 0.76.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The business had revenue of $7.00 million for the quarter, compared to the consensus estimate of $7.00 million. As a group, equities analysts expect 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.