IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $52.46 Consensus Price Target from Brokerages

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have earned an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $52.6923.

A number of analysts have weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Friday, May 22nd. Wedbush raised their price target on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $42.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, September 1st.

Insider Activity at IDEAYA Biosciences

In other IDEAYA Biosciences news, CAO Andres Ruiz Briseno sold 9,550 shares of IDEAYA Biosciences stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the sale, the chief accounting officer owned 26,466 shares of the company’s stock, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently modified their holdings of the business. Tidal Investments LLC increased its holdings in IDEAYA Biosciences by 21.0% in the 2nd quarter. Tidal Investments LLC now owns 135,847 shares of the company’s stock worth $5,063,000 after buying an additional 23,538 shares in the last quarter. Nykredit A S bought a new position in IDEAYA Biosciences during the 2nd quarter valued at about $76,000. Allianz Asset Management GmbH purchased a new stake in shares of IDEAYA Biosciences during the 2nd quarter valued at about $745,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of IDEAYA Biosciences during the 2nd quarter valued at about $1,452,000. Finally, AXQ Capital LP bought a new stake in shares of IDEAYA Biosciences in the second quarter worth approximately $753,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Trading Down 1.0%

IDEAYA Biosciences stock opened at $37.66 on Wednesday. IDEAYA Biosciences has a 12 month low of $24.28 and a 12 month high of $42.68. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of -19.41 and a beta of -0.07. The business’s fifty day simple moving average is $37.65 and its two-hundred day simple moving average is $33.79.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The company had revenue of $8.86 million for the quarter, compared to the consensus estimate of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. IDEAYA Biosciences’s revenue was up 8800.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.88) earnings per share. On average, equities research analysts predict that IDEAYA Biosciences will post -4.38 EPS for the current year.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc is a clinical-stage biotechnology company focused on developing precision medicines for cancer. The company uses insights from tumor genetics and synthetic lethality—the targeting of vulnerabilities created by specific genetic alterations—to identify therapies intended for molecularly defined patient populations.

IDEAYA’s investigational pipeline includes darovasertib (IDE196), a protein kinase C inhibitor being studied in genetically defined cancers, including metastatic uveal melanoma associated with GNAQ or GNA11 mutations.