IDEAYA Biosciences (NASDAQ:IDYA) Hits New 52-Week High – Time to Buy?

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) hit a new 52-week high on Monday . The stock traded as high as $36.65 and last traded at $35.3410, with a volume of 2150 shares traded. The stock had previously closed at $35.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial set a $59.00 price target on IDEAYA Biosciences in a research note on Monday, November 24th. Wall Street Zen raised IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Stephens reaffirmed an “overweight” rating and set a $45.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of IDEAYA Biosciences from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.40.

IDEAYA Biosciences Stock Performance

The company has a 50 day moving average of $30.04 and a two-hundred day moving average of $25.33. The stock has a market cap of $3.06 billion, a PE ratio of -18.76 and a beta of 0.04.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, November 4th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $1.45. The business had revenue of $207.83 million for the quarter, compared to analyst estimates of $59.98 million. As a group, equities research analysts anticipate that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Several large investors have recently bought and sold shares of IDYA. Vanguard Group Inc. raised its stake in IDEAYA Biosciences by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,092,619 shares of the company’s stock valued at $83,417,000 after purchasing an additional 14,535 shares during the last quarter. Baker BROS. Advisors LP lifted its stake in shares of IDEAYA Biosciences by 54.6% in the third quarter. Baker BROS. Advisors LP now owns 3,275,444 shares of the company’s stock worth $89,125,000 after buying an additional 1,156,716 shares in the last quarter. Geode Capital Management LLC boosted its position in IDEAYA Biosciences by 1.6% during the second quarter. Geode Capital Management LLC now owns 2,113,164 shares of the company’s stock worth $44,424,000 after acquiring an additional 33,286 shares during the last quarter. Fiera Capital Corp grew its stake in IDEAYA Biosciences by 20.0% during the 3rd quarter. Fiera Capital Corp now owns 1,837,967 shares of the company’s stock valued at $50,011,000 after acquiring an additional 305,698 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in IDEAYA Biosciences by 4.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,238,094 shares of the company’s stock valued at $26,025,000 after acquiring an additional 50,000 shares in the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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.