Brokerages Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) PT at $50.25

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been given an average rating of “Moderate Buy” by the sixteen research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $50.25.

Several brokerages have recently issued reports on IDYA. Wells Fargo & Company lifted their price objective on IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Mizuho lowered their target price on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Guggenheim increased their price target on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Finally, The Goldman Sachs Group raised their price objective on shares of IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th.

IDEAYA Biosciences Stock Up 3.9%

Shares of IDYA stock opened at $36.77 on Tuesday. The firm has a 50 day moving average of $33.15 and a two-hundred day moving average of $32.68. The stock has a market capitalization of $3.23 billion, a PE ratio of -22.98 and a beta of -0.09. IDEAYA Biosciences has a 52 week low of $22.09 and a 52 week high of $40.58.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The firm had revenue of $6.56 million during the quarter, compared to analyst estimates of $5.04 million. The company’s revenue for the quarter was down 39.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.82) earnings per share. Analysts expect that IDEAYA Biosciences will post -4.1 EPS for the current fiscal year.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CAO Briseno Andres Ruiz sold 9,550 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $382,095.50. Following the completion of the sale, the chief accounting officer directly owned 26,466 shares of the company’s stock, valued at $1,058,904.66. This represents a 26.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently modified their holdings of the stock. ANTIPODES PARTNERS Ltd grew its position in IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after buying an additional 380 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of IDEAYA Biosciences by 16.1% in 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. boosted its holdings in shares of IDEAYA Biosciences by 5.2% in the fourth quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock valued at $335,000 after acquiring an additional 476 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of IDEAYA Biosciences by 171.1% in the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock valued at $32,000 after acquiring an additional 580 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of IDEAYA Biosciences by 26.7% during the second quarter. Versant Capital Management Inc now owns 2,825 shares of the company’s stock worth $105,000 after acquiring an additional 596 shares during the period. 98.29% of the stock is owned by institutional investors and hedge funds.

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.