IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Average Recommendation of “Moderate Buy” from Brokerages

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

A number of research analysts recently weighed in on IDYA shares. Wedbush restated an “outperform” rating and set a $58.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, June 2nd. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Guggenheim lifted their target price on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Wall Street Zen cut shares of IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Truist Financial set a $65.00 target price on shares of IDEAYA Biosciences in a research note on Monday, April 13th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IDYA. Iron Triangle Partners LP purchased a new stake in IDEAYA Biosciences in the 3rd quarter worth $7,347,000. Envestnet Asset Management Inc. lifted its stake in IDEAYA Biosciences by 174.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 299,032 shares of the company’s stock worth $8,137,000 after purchasing an additional 189,877 shares in the last quarter. Candriam S.C.A. lifted its stake in IDEAYA Biosciences by 10.8% in the 3rd quarter. Candriam S.C.A. now owns 1,012,967 shares of the company’s stock worth $27,563,000 after purchasing an additional 98,567 shares in the last quarter. Cinctive Capital Management LP lifted its stake in IDEAYA Biosciences by 193.9% in the 3rd quarter. Cinctive Capital Management LP now owns 49,946 shares of the company’s stock worth $1,359,000 after purchasing an additional 32,953 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of IDEAYA Biosciences in the 3rd quarter worth about $1,023,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Price Performance

Shares of IDEAYA Biosciences stock opened at $28.29 on Monday. The company’s fifty day simple moving average is $30.19 and its 200-day simple moving average is $32.64. The stock has a market capitalization of $2.49 billion, a PE ratio of -17.68 and a beta of -0.05. IDEAYA Biosciences has a 1-year low of $20.50 and a 1-year high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The firm had revenue of $6.56 million for the quarter, compared to analyst estimates of $5.04 million. IDEAYA Biosciences’s revenue was down 39.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.82) EPS. As a group, research analysts anticipate that IDEAYA Biosciences will post -4.27 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.