IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Average Recommendation of "Buy" from Analysts

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) has been assigned an average recommendation of "Buy" from the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $56.00.

Several research firms have issued reports on IDYA. Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Lifesci Capital raised IDEAYA Biosciences to a "strong-buy" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. reduced their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Wedbush lowered their target price on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an "outperform" rating for the company in a research note on Tuesday, September 24th. Finally, BTIG Research upped their price objective on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, July 9th.

IDEAYA Biosciences Price Performance

Shares of IDEAYA Biosciences stock traded up $0.97 during midday trading on Wednesday, hitting $31.70. 828,393 shares of the company were exchanged, compared to its average volume of 865,959. The firm has a 50 day simple moving average of $37.24 and a 200-day simple moving average of $38.95. IDEAYA Biosciences has a 52 week low of $23.41 and a 52 week high of $47.74. The firm has a market cap of $2.40 billion, a P/E ratio of -15.77 and a beta of 0.84.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative return on equity of 20.52% and a negative net margin of 483.05%. During the same quarter last year, the business posted ($0.50) EPS. Equities research analysts expect that IDEAYA Biosciences will post -2.51 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of IDYA. Scientech Research LLC raised its stake in IDEAYA Biosciences by 362.3% in the 2nd quarter. Scientech Research LLC now owns 27,708 shares of the company's stock valued at $973,000 after acquiring an additional 21,714 shares during the period. Millennium Management LLC boosted its stake in shares of IDEAYA Biosciences by 87.1% in the second quarter. Millennium Management LLC now owns 258,606 shares of the company's stock valued at $9,080,000 after buying an additional 120,395 shares during the period. D. E. Shaw & Co. Inc. increased its stake in IDEAYA Biosciences by 34.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company's stock worth $31,056,000 after acquiring an additional 226,514 shares during the period. Squarepoint Ops LLC raised its stake in IDEAYA Biosciences by 127.1% in the second quarter. Squarepoint Ops LLC now owns 100,502 shares of the company's stock valued at $3,529,000 after purchasing an additional 56,256 shares in the last quarter. Finally, Samlyn Capital LLC boosted its position in shares of IDEAYA Biosciences by 27.1% during the 2nd quarter. Samlyn Capital LLC now owns 611,820 shares of the company's stock worth $21,481,000 after acquiring an additional 130,595 shares in the last quarter. Institutional investors own 98.29% of the company's stock.

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.