Brokerages Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) PT at $53.58

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) have earned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $53.58.

A number of brokerages have recently weighed in on IDYA. Cantor Fitzgerald reiterated an "overweight" rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Wedbush reiterated an "outperform" rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Finally, Stephens reaffirmed an "overweight" rating and set a $50.00 price objective on shares of IDEAYA Biosciences in a research report on Friday, February 14th.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in IDYA. FMR LLC raised its stake in shares of IDEAYA Biosciences by 12.1% in the 3rd quarter. FMR LLC now owns 12,635,653 shares of the company's stock valued at $400,297,000 after acquiring an additional 1,365,570 shares in the last quarter. RA Capital Management L.P. bought a new position in shares of IDEAYA Biosciences in the third quarter valued at approximately $42,681,000. Janus Henderson Group PLC raised its position in shares of IDEAYA Biosciences by 26.7% in the third quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company's stock valued at $163,518,000 after purchasing an additional 1,086,356 shares during the period. Norges Bank acquired a new stake in shares of IDEAYA Biosciences in the fourth quarter worth $13,385,000. Finally, State Street Corp boosted its holdings in shares of IDEAYA Biosciences by 15.4% during the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company's stock worth $105,112,000 after buying an additional 443,640 shares during the period. Institutional investors and hedge funds own 98.29% of the company's stock.

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IDEAYA Biosciences Price Performance

Shares of IDYA traded down $0.38 during trading hours on Wednesday, hitting $17.05. 554,142 shares of the company were exchanged, compared to its average volume of 859,048. The company has a market capitalization of $1.49 billion, a PE ratio of -5.17 and a beta of 0.76. The firm has a fifty day simple moving average of $20.80 and a 200-day simple moving average of $25.84. IDEAYA Biosciences has a one year low of $16.88 and a one year high of $44.42.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.82). The company had revenue of $7.00 million during the quarter, compared to analysts' expectations of $7.00 million. Sell-side analysts expect that IDEAYA Biosciences will post -3.07 EPS for the current year.

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.