IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Stock Has Average Price Target of $51.09

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $50.55.

IDYA has been the subject of a number of recent analyst reports. Stifel Nicolaus started coverage on IDEAYA Biosciences in a research report on Wednesday, October 14th. They issued a “buy” rating and a $48.00 target price for the company. Wall Street Zen downgraded shares of IDEAYA Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Citigroup reiterated a “market outperform” rating on shares of IDEAYA Biosciences in a research note on Monday, October 19th. Royal Bank Of Canada reduced their price target on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Finally, Guggenheim boosted their price objective on shares of IDEAYA Biosciences from $54.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, September 9th.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro Hata sold 26,338 shares of IDEAYA Biosciences stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $37.41, for a total value of $985,304.58. Following the completion of the sale, the chief executive officer owned 690,695 shares of the company’s stock, valued at approximately $25,838,899.95. The trade was a 3.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of IDEAYA Biosciences in the 2nd quarter worth approximately $331,452,000. Jupiter Topco LLC bought a new stake in IDEAYA Biosciences during the second quarter valued at approximately $319,728,000. Bank of America Corp DE bought a new stake in IDEAYA Biosciences during the second quarter valued at approximately $38,244,000. Dimensional Fund Advisors LP grew its position in IDEAYA Biosciences by 42.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,333,478 shares of the company’s stock valued at $44,418,000 after buying an additional 394,621 shares during the period. Finally, Walleye Capital LLC purchased a new stake in IDEAYA Biosciences during the second quarter valued at approximately $14,393,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Price Performance

IDYA stock opened at $31.96 on Thursday. IDEAYA Biosciences has a 1-year low of $26.81 and a 1-year high of $42.68. The business has a fifty day moving average price of $37.24 and a 200-day moving average price of $34.09. The stock has a market capitalization of $2.81 billion, a P/E ratio of -16.47 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The business had revenue of $8.86 million for the quarter, compared to the consensus estimate of $8.02 million. During the same period in the previous year, the company earned ($0.88) earnings per share. The company’s revenue for the quarter was up 8800.0% compared to the same quarter last year. As a group, analysts anticipate that IDEAYA Biosciences will post -4.52 earnings per share for the current year.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc (NASDAQ:IDYA) is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company’s pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.