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

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have received a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $53.58.

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

Institutional Investors Weigh In On IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDYA. FMR LLC boosted its holdings in shares of IDEAYA Biosciences by 2.6% in 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 during the period. Janus Henderson Group PLC lifted its position in 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 buying an additional 695,263 shares during the last quarter. Vanguard Group Inc. boosted its stake in IDEAYA Biosciences by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company’s stock worth $130,507,000 after buying an additional 282,936 shares during the period. State Street Corp increased its position in IDEAYA Biosciences by 15.4% during the third 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 last quarter. Finally, Deerfield Management Company L.P. Series C raised its stake in shares of IDEAYA Biosciences by 5.5% in the fourth 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 during the period. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock opened at $18.01 on Wednesday. The stock has a fifty day simple moving average of $21.12 and a two-hundred day simple moving average of $26.17. IDEAYA Biosciences has a 52-week low of $16.95 and a 52-week high of $44.42. The firm has a market capitalization of $1.58 billion, a PE ratio of -5.46 and a beta of 0.76.

IDEAYA Biosciences (NASDAQ:IDYA) last released its 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 company had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $7.00 million. On average, sell-side analysts forecast 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.