IDEAYA Biosciences (NASDAQ:IDYA) Given “Outperform” Rating at Wedbush

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued on Tuesday,Benzinga reports. They presently have a $58.00 target price on the stock. Wedbush’s target price suggests a potential upside of 100.41% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Tuesday, April 21st. The Goldman Sachs Group boosted their target price on IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Truist Financial set a $65.00 target price on IDEAYA Biosciences in a report on Monday, April 13th. Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a research note on Tuesday. Finally, Mizuho cut their target price on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.69.

IDEAYA Biosciences Trading Down 1.8%

IDYA stock opened at $28.94 on Tuesday. IDEAYA Biosciences has a 12-month low of $19.83 and a 12-month high of $39.28. The business’s 50-day moving average is $30.44 and its 200 day moving average is $32.75. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -18.09 and a beta of -0.04.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The company had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $5.04 million. During the same period last year, the firm earned ($0.82) EPS. The business’s quarterly revenue was down 39.4% compared to the same quarter last year. As a group, equities analysts forecast that IDEAYA Biosciences will post -4.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IDYA. Royal Bank of Canada raised its position in shares of IDEAYA Biosciences by 30.1% in the first quarter. Royal Bank of Canada now owns 122,460 shares of the company’s stock valued at $2,006,000 after buying an additional 28,322 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of IDEAYA Biosciences by 8.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company’s stock valued at $938,000 after buying an additional 4,308 shares during the period. Millennium Management LLC raised its stake in shares of IDEAYA Biosciences by 345.2% during the first quarter. Millennium Management LLC now owns 547,637 shares of the company’s stock valued at $8,970,000 after purchasing an additional 424,625 shares during the period. American Century Companies Inc. grew its holdings in IDEAYA Biosciences by 862.7% during the 2nd quarter. American Century Companies Inc. now owns 114,644 shares of the company’s stock valued at $2,410,000 after purchasing an additional 102,736 shares in the last quarter. Finally, Norges Bank acquired a new position in IDEAYA Biosciences in the 2nd quarter worth $643,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.