IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $53.67 Average Price Target from Analysts

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been given an average rating of “Moderate Buy” by the sixteen analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $53.67.

Several equities research analysts have commented on IDYA shares. JPMorgan Chase & Co. lowered their price target on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Wedbush reiterated an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Monday, November 4th. Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a research report on Monday, July 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Finally, Stephens started coverage on shares of IDEAYA Biosciences in a report on Monday, November 18th. They set an “overweight” rating and a $51.00 price target on the stock.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock opened at $26.54 on Thursday. IDEAYA Biosciences has a fifty-two week low of $25.20 and a fifty-two week high of $47.74. The firm has a market capitalization of $2.29 billion, a PE ratio of -11.39 and a beta of 0.86. The stock’s 50-day simple moving average is $30.18 and its 200-day simple moving average is $35.64.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the previous year, the business earned ($0.46) EPS. Sell-side analysts forecast that IDEAYA Biosciences will post -2.46 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDYA. SG Americas Securities LLC acquired a new position in shares of IDEAYA Biosciences in the first quarter valued at approximately $101,000. Vanguard Group Inc. raised its stake in IDEAYA Biosciences by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after acquiring an additional 679,985 shares during the last quarter. Covestor Ltd increased its stake in IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after buying an additional 1,107 shares during the period. Ameritas Investment Partners Inc. grew its holdings in IDEAYA Biosciences by 5.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock worth $288,000 after acquiring an additional 332 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new position in IDEAYA Biosciences during the first quarter worth about $214,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

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.