IDEAYA Biosciences’ (IDYA) Buy Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $50.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Thursday, January 22nd. Mizuho increased their price objective on IDEAYA Biosciences from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. boosted their target price on IDEAYA Biosciences from $74.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group upped their price target on IDEAYA Biosciences from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen raised IDEAYA Biosciences from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.69.

IDEAYA Biosciences Price Performance

NASDAQ IDYA opened at $31.98 on Wednesday. The business’s fifty day moving average is $34.19 and its 200-day moving average is $30.51. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -24.41 and a beta of 0.10. IDEAYA Biosciences has a one year low of $13.45 and a one year high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.09. The company had revenue of $21.75 million for the quarter, compared to analysts’ expectations of $5.95 million. The business’s quarterly revenue was up 55.7% on a year-over-year basis. During the same quarter last year, the business posted ($1.49) EPS. Research analysts expect that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its holdings in shares of IDEAYA Biosciences by 1.5% in the third quarter. Arizona State Retirement System now owns 23,324 shares of the company’s stock worth $635,000 after buying an additional 353 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in IDEAYA Biosciences by 49.4% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after acquiring an additional 380 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in IDEAYA Biosciences by 16.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after acquiring an additional 436 shares during the period. Russell Investments Group Ltd. lifted its stake in IDEAYA Biosciences by 5.2% in the 4th quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock worth $335,000 after purchasing an additional 476 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in IDEAYA Biosciences by 16.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company’s stock valued at $106,000 after purchasing an additional 537 shares during the period. Hedge funds and other institutional investors own 98.29% of the company’s stock.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.