Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Target Price at $55.70

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have received a consensus rating of “Buy” from the thirteen brokerages that are covering the stock, Marketbeat reports. Twelve investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $56.20.

Several research firms have recently issued reports on IDYA. Mizuho began coverage on IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 price target for the company. Lifesci Capital raised shares of IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Stifel Nicolaus lifted their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer dropped their price objective on IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup reduced their target price on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th.

IDEAYA Biosciences Trading Down 1.2 %

IDYA stock opened at $36.20 on Friday. IDEAYA Biosciences has a 52 week low of $23.41 and a 52 week high of $47.74. The company has a market cap of $3.06 billion, a P/E ratio of -18.01 and a beta of 0.84. The company’s 50-day moving average price is $39.14 and its 200 day moving average price is $40.18.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the firm posted ($0.50) earnings per share. On average, equities research analysts expect that IDEAYA Biosciences will post -2.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IDYA. Covestor Ltd grew its holdings in IDEAYA Biosciences by 9,225.0% during the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after acquiring an additional 1,107 shares during the period. Quest Partners LLC acquired a new stake in shares of IDEAYA Biosciences during the 2nd quarter valued at $41,000. Comerica Bank grew its holdings in shares of IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after acquiring an additional 1,324 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in shares of IDEAYA Biosciences in the first quarter worth $67,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of IDEAYA Biosciences by 637.9% during the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after acquiring an additional 1,684 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

About IDEAYA Biosciences

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.