IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Stock Has Average Price Target of $51.09 According to Brokerages

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has received an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $50.55.

Several equities analysts have weighed in on IDYA shares. Royal Bank Of Canada decreased their target price on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Mizuho set a $44.00 price target on shares of IDEAYA Biosciences in a research report on Thursday. Guggenheim raised their target price on IDEAYA Biosciences from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. Truist Financial lowered their price target on IDEAYA Biosciences from $63.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 1st.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro Hata sold 26,338 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $37.41, for a total value of $985,304.58. Following the sale, the chief executive officer directly owned 690,695 shares of the company’s stock, valued at approximately $25,838,899.95. The trade was a 3.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.70% of the stock is currently owned by corporate insiders.

Institutional Trading of IDEAYA Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in IDEAYA Biosciences during the 2nd quarter valued at about $43,000. Sterling Capital Management LLC boosted its stake in shares of IDEAYA Biosciences by 20.5% in the third quarter. Sterling Capital Management LLC now owns 1,873 shares of the company’s stock valued at $72,000 after purchasing an additional 319 shares during the period. Nykredit A S purchased a new position in shares of IDEAYA Biosciences in the second quarter valued at approximately $76,000. GAMMA Investing LLC grew its holdings in shares of IDEAYA Biosciences by 79.0% in the third quarter. GAMMA Investing LLC now owns 2,315 shares of the company’s stock valued at $89,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of IDEAYA Biosciences in the first quarter valued at approximately $84,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Trading Down 1.0%

NASDAQ IDYA opened at $31.64 on Thursday. IDEAYA Biosciences has a 52 week low of $26.81 and a 52 week high of $42.68. The business’s fifty day simple moving average is $37.08 and its 200-day simple moving average is $34.08.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.06) by ($0.16). IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%. The firm had revenue of $8.86 million for the quarter, compared to analyst estimates of $8.02 million. During the same quarter in the previous year, the business posted ($0.88) earnings per share. IDEAYA Biosciences’s revenue for the quarter was up 8800.0% on a year-over-year basis. As a group, sell-side analysts forecast that IDEAYA Biosciences will post -4.52 EPS for the current fiscal year.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc (NASDAQ:IDYA) is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company’s pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.