Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Target Price at $48.27

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have received a consensus rating of “Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. Thirteen research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have covered the stock in the last year is $48.27.

IDYA has been the topic of several analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research note on Wednesday, May 8th. BTIG Research initiated coverage on shares of IDEAYA Biosciences in a research report on Friday, March 8th. They set a “buy” rating and a $55.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Citigroup boosted their price objective on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Stifel Nicolaus boosted their price objective on shares of IDEAYA Biosciences from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th.

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $35.11 on Monday. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -17.47 and a beta of 0.79. IDEAYA Biosciences has a fifty-two week low of $20.90 and a fifty-two week high of $47.74. The firm has a 50 day moving average price of $39.00 and a 200-day moving average price of $40.68.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. During the same quarter in the previous year, the company earned ($0.49) earnings per share. IDEAYA Biosciences’s revenue was down 100.0% compared to the same quarter last year. As a group, equities research analysts predict that IDEAYA Biosciences will post -2.37 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares in the company, valued at approximately $28,206,878.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares in the company, valued at approximately $28,206,878.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Anthony White sold 28,500 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total transaction of $1,032,840.00. The disclosure for this sale can be found here. Insiders sold a total of 119,644 shares of company stock worth $4,832,228 in the last three months. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds have recently bought and sold shares of IDYA. Charles Schwab Investment Management Inc. boosted its stake in IDEAYA Biosciences by 199.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 437,356 shares of the company’s stock worth $11,800,000 after purchasing an additional 291,240 shares in the last quarter. Citigroup Inc. boosted its stake in IDEAYA Biosciences by 3.7% in the 3rd quarter. Citigroup Inc. now owns 55,254 shares of the company’s stock worth $1,491,000 after purchasing an additional 1,967 shares in the last quarter. Deutsche Bank AG boosted its stake in IDEAYA Biosciences by 15.7% in the 3rd quarter. Deutsche Bank AG now owns 29,909 shares of the company’s stock worth $807,000 after purchasing an additional 4,054 shares in the last quarter. Rhumbline Advisers lifted its stake in IDEAYA Biosciences by 2.4% during the 3rd quarter. Rhumbline Advisers now owns 78,794 shares of the company’s stock valued at $2,126,000 after acquiring an additional 1,812 shares during the period. Finally, Invesco Ltd. lifted its stake in IDEAYA Biosciences by 26.7% during the 3rd quarter. Invesco Ltd. now owns 290,267 shares of the company’s stock valued at $7,831,000 after acquiring an additional 61,157 shares during the period. 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.