IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Average Rating of “Buy” from Analysts

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have received a consensus rating of “Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $56.00.

IDYA has been the topic of several recent research reports. Wedbush decreased their price objective on IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Citigroup cut their target price 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. JPMorgan Chase & Co. cut their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Oppenheimer cut their target price 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its position in shares of IDEAYA Biosciences by 5.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock worth $288,000 after acquiring an additional 332 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of IDEAYA Biosciences by 4.4% during the first quarter. Principal Financial Group Inc. now owns 15,275 shares of the company’s stock worth $670,000 after purchasing an additional 648 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of IDEAYA Biosciences by 38.4% during the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after purchasing an additional 927 shares during the period. Covestor Ltd grew its stake 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 worth $49,000 after purchasing an additional 1,107 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of IDEAYA Biosciences during the second quarter worth $41,000. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ IDYA opened at $29.97 on Wednesday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -14.91 and a beta of 0.82. The business’s 50-day simple moving average is $36.73 and its 200-day simple moving average is $38.70. IDEAYA Biosciences has a 52 week low of $23.41 and a 52 week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate 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 business posted ($0.50) EPS. As a group, equities research analysts forecast that IDEAYA Biosciences will post -2.51 earnings per share for the current year.

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.