Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Price Target at $55.45

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been assigned an average recommendation of “Buy” from the fifteen brokerages that are covering the firm, MarketBeat.com reports. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $55.45.

IDYA has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of IDEAYA Biosciences in a report on Tuesday, October 15th. They set an “overweight” rating on the stock. BTIG Research boosted their price target on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Oppenheimer reiterated an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, August 8th.

IDEAYA Biosciences Stock Down 0.5 %

IDEAYA Biosciences stock opened at $29.86 on Friday. The company’s fifty day simple moving average is $33.78 and its 200-day simple moving average is $37.20. IDEAYA Biosciences has a 12 month low of $25.22 and a 12 month high of $47.74. The stock has a market cap of $2.26 billion, a P/E ratio of -14.86 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). During the same quarter last year, the firm posted ($0.50) EPS. On average, equities research analysts expect that IDEAYA Biosciences will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in IDEAYA Biosciences by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after acquiring an additional 679,985 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of IDEAYA Biosciences by 13.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock valued at $177,825,000 after buying an additional 486,222 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of IDEAYA Biosciences by 7.2% during the first quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock valued at $167,104,000 after buying an additional 256,559 shares during the last quarter. Logos Global Management LP raised its position in shares of IDEAYA Biosciences by 13.3% during the second quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock valued at $59,687,000 after buying an additional 200,000 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of IDEAYA Biosciences by 22.6% during the second quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock valued at $46,886,000 after buying an additional 246,010 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.