IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Stock Has Consensus Target Price of $52.69

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has earned an average rating of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $52.69.

IDYA has been the subject of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 22nd. Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 1st. Guggenheim boosted 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, September 9th. Wedbush upped their target price on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th.

IDEAYA Biosciences Trading Down 3.9%

Shares of IDYA opened at $36.58 on Friday. IDEAYA Biosciences has a 1 year low of $26.05 and a 1 year high of $42.68. The stock has a 50 day simple moving average of $38.13 and a 200-day simple moving average of $34.24. The stock has a market cap of $3.21 billion, a PE ratio of -18.85 and a beta of -0.04.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly 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 company had revenue of $8.86 million during the quarter, compared to analyst estimates of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. IDEAYA Biosciences’s quarterly revenue was up 8800.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.88) EPS. On average, sell-side analysts forecast that IDEAYA Biosciences will post -4.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in IDEAYA Biosciences during the 2nd quarter worth approximately $331,452,000. Jupiter Topco LLC bought a new position in IDEAYA Biosciences in the 2nd quarter valued at $319,728,000. Bank of America Corp DE bought a new position in IDEAYA Biosciences in the 2nd quarter valued at $38,244,000. First Turn Management LLC acquired a new position in IDEAYA Biosciences in the fourth quarter worth $25,017,000. Finally, Fiera Capital Corp boosted its stake in IDEAYA Biosciences by 32.6% in the fourth quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock worth $84,256,000 after purchasing an additional 599,295 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company uses insights from tumor biology, cancer genetics and synthetic lethality to identify treatments designed to target specific molecular alterations in tumors.

Its development pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily in genetically defined cancers, including GNAQ- or GNA11-mutated uveal melanoma.