IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $55.70 Consensus Target Price from Brokerages

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been given an average recommendation of “Buy” by the thirteen research firms that are currently covering the stock, MarketBeat.com reports. Twelve analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $56.20.

A number of brokerages have weighed in on IDYA. BTIG Research lifted their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a research report on Monday, July 29th. Citigroup cut their target price on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Oppenheimer decreased their price target on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Mizuho started coverage on shares of IDEAYA Biosciences in a research report on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective on the stock.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Scientech Research LLC raised its stake in shares of IDEAYA Biosciences by 362.3% in the second quarter. Scientech Research LLC now owns 27,708 shares of the company’s stock worth $973,000 after purchasing an additional 21,714 shares during the last quarter. Millennium Management LLC grew its holdings in IDEAYA Biosciences by 87.1% during the second quarter. Millennium Management LLC now owns 258,606 shares of the company’s stock worth $9,080,000 after buying an additional 120,395 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in IDEAYA Biosciences by 34.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 884,538 shares of the company’s stock valued at $31,056,000 after buying an additional 226,514 shares during the last quarter. Squarepoint Ops LLC lifted its stake in IDEAYA Biosciences by 127.1% during the 2nd quarter. Squarepoint Ops LLC now owns 100,502 shares of the company’s stock valued at $3,529,000 after acquiring an additional 56,256 shares in the last quarter. Finally, Samlyn Capital LLC boosted its holdings in IDEAYA Biosciences by 27.1% during the 2nd quarter. Samlyn Capital LLC now owns 611,820 shares of the company’s stock worth $21,481,000 after acquiring an additional 130,595 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Up 3.7 %

IDYA opened at $37.46 on Friday. The stock has a market cap of $2.84 billion, a PE ratio of -18.64 and a beta of 0.84. IDEAYA Biosciences has a twelve month low of $23.41 and a twelve month high of $47.74. The company has a fifty day moving average of $39.26 and a 200-day moving average of $40.09.

IDEAYA Biosciences (NASDAQ:IDYA) last issued 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 company earned ($0.50) EPS. Sell-side analysts anticipate that IDEAYA Biosciences will post -2.51 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.