Guggenheim Reiterates “Buy” Rating for IDEAYA Biosciences (NASDAQ:IDYA)

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “buy” rating reiterated by equities research analysts at Guggenheim in a note issued to investors on Wednesday,Benzinga reports. They currently have a $50.00 price objective on the stock. Guggenheim’s target price suggests a potential upside of 61.29% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Mizuho upped their target price on shares of IDEAYA Biosciences from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. New Street Research set a $30.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 21st. UBS Group initiated coverage on IDEAYA Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 target price on the stock. Royal Bank Of Canada boosted their price target on IDEAYA Biosciences from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group raised their price objective on IDEAYA Biosciences from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.33.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA traded up $0.24 during trading hours on Wednesday, hitting $31.00. 79,934 shares of the company’s stock were exchanged, compared to its average volume of 885,654. The company’s 50-day moving average price is $34.30 and its 200-day moving average price is $30.44. IDEAYA Biosciences has a 1-year low of $13.45 and a 1-year high of $39.28. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -16.67 and a beta of 0.10.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.09. The business had revenue of $21.75 million during the quarter, compared to the consensus estimate of $5.95 million. During the same period in the prior year, the firm earned ($1.49) earnings per share. The business’s quarterly revenue was up 55.7% on a year-over-year basis. On average, research analysts expect that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Institutional Trading of IDEAYA Biosciences

Several institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in IDEAYA Biosciences by 171.1% during the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after buying an additional 580 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of IDEAYA Biosciences in the third quarter valued at approximately $38,000. ANTIPODES PARTNERS Ltd increased its holdings in shares of IDEAYA Biosciences by 49.4% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after purchasing an additional 380 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in IDEAYA Biosciences in the 3rd quarter worth approximately $58,000. Finally, Elevation Point Wealth Partners LLC bought a new position in IDEAYA Biosciences in the 2nd quarter valued at $61,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.