IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $53.67.

IDYA has been the topic of a number of analyst reports. Leerink Partners cut IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Stephens assumed coverage on shares of IDEAYA Biosciences in a report on Monday, November 18th. They issued an “overweight” rating and a $51.00 target price on the stock. Leerink Partnrs downgraded shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their price objective on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald started coverage on shares of IDEAYA Biosciences in a report on Tuesday, October 15th. They set an “overweight” rating for the company.

IDEAYA Biosciences Stock Performance

Shares of IDEAYA Biosciences stock opened at $26.99 on Thursday. The firm has a market cap of $2.33 billion, a P/E ratio of -11.58 and a beta of 0.86. The firm’s 50-day simple moving average is $29.84 and its 200-day simple moving average is $35.48. IDEAYA Biosciences has a twelve month low of $25.20 and a twelve month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same period last year, the company earned ($0.46) EPS. On average, equities analysts forecast that IDEAYA Biosciences will post -2.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several hedge funds have recently added to or reduced their stakes in IDYA. Allworth Financial LP lifted its position in IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after purchasing an additional 800 shares during the period. Covestor Ltd lifted its holdings in IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after buying an additional 922 shares during the period. Quest Partners LLC bought a new position in IDEAYA Biosciences in the second quarter valued at approximately $41,000. US Bancorp DE grew its holdings in IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after acquiring an additional 689 shares during the period. Finally, Comerica Bank grew its holdings in IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after acquiring an additional 1,324 shares during the period. 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.