Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Price Target at $53.58

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $53.58.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IDYA. FMR LLC boosted its holdings in IDEAYA Biosciences by 2.6% during the fourth quarter. FMR LLC now owns 12,963,151 shares of the company’s stock valued at $333,153,000 after acquiring an additional 327,498 shares during the period. Janus Henderson Group PLC lifted its position in shares of IDEAYA Biosciences by 13.5% during the 4th quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company’s stock worth $150,606,000 after purchasing an additional 695,263 shares during the last quarter. Vanguard Group Inc. boosted its stake in IDEAYA Biosciences by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company’s stock valued at $130,507,000 after purchasing an additional 282,936 shares during the period. State Street Corp grew its holdings in IDEAYA Biosciences by 15.4% in the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after buying an additional 443,640 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C increased its position in IDEAYA Biosciences by 5.5% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,736,000 shares of the company’s stock worth $70,315,000 after buying an additional 142,000 shares during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Stock Performance

NASDAQ IDYA opened at $19.39 on Friday. The firm’s 50 day moving average price is $22.93 and its two-hundred day moving average price is $28.26. IDEAYA Biosciences has a twelve month low of $18.20 and a twelve month high of $47.72. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -5.88 and a beta of 0.76.

IDEAYA Biosciences (NASDAQ:IDYA) 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 firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.00 million. On average, research analysts forecast that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

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.