IDEAYA Biosciences (NASDAQ:IDYA) Given New $52.00 Price Target at Wedbush

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective decreased by Wedbush from $54.00 to $52.00 in a report released on Tuesday, Benzinga reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for IDEAYA Biosciences’ FY2025 earnings at ($3.49) EPS, FY2026 earnings at ($4.02) EPS, FY2027 earnings at ($3.63) EPS and FY2028 earnings at ($2.10) EPS.

IDYA has been the topic of a number of other reports. Royal Bank of Canada reissued an outperform rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday. Oppenheimer lowered their price objective on IDEAYA Biosciences from $60.00 to $53.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. BTIG Research raised their price objective on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. Mizuho began coverage on IDEAYA Biosciences in a research report on Monday, July 8th. They set an outperform rating and a $50.00 price objective for the company. Finally, Citigroup lowered their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a buy rating for the company in a research report on Tuesday, August 27th. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $56.00.

IDEAYA Biosciences Trading Up 1.0 %

Shares of IDYA stock opened at $30.80 on Tuesday. The business’s 50-day moving average price is $38.12 and its 200-day moving average price is $39.36. IDEAYA Biosciences has a 12 month low of $23.41 and a 12 month high of $47.74. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -15.38 and a beta of 0.84.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.52%. During the same period last year, the business earned ($0.50) EPS. On average, sell-side analysts predict that IDEAYA Biosciences will post -2.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in IDEAYA Biosciences in the second quarter worth approximately $41,000. Covestor Ltd increased its holdings in shares of IDEAYA Biosciences by 9,225.0% during the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after acquiring an additional 1,107 shares in the last quarter. Comerica Bank increased its holdings in shares of IDEAYA Biosciences by 723.5% during the first 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 bought a new stake in shares of IDEAYA Biosciences during the first quarter valued at approximately $67,000. Finally, Daiwa Securities Group Inc. increased 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 valued at $68,000 after acquiring an additional 1,684 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors.

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.