Brokerages Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) PT at $53.58

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $53.58.

A number of analysts recently issued reports on the stock. Leerink Partners downgraded shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $41.00 to $27.00 in a report on Tuesday, November 5th. Leerink Partnrs lowered shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. Finally, Stephens restated an “overweight” rating and issued a $50.00 target price on shares of IDEAYA Biosciences in a research note on Friday, February 14th.

IDEAYA Biosciences Stock Down 7.0 %

Shares of NASDAQ IDYA opened at $19.13 on Friday. The company has a market capitalization of $1.67 billion, a PE ratio of -5.80 and a beta of 0.82. The stock’s 50 day moving average price is $23.17 and its 200-day moving average price is $28.45. IDEAYA Biosciences has a twelve month low of $18.93 and a twelve month high of $47.72.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $7.00 million. As a group, research analysts expect that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its position in IDEAYA Biosciences by 2.6% during the fourth quarter. FMR LLC now owns 12,963,151 shares of the company’s stock valued at $333,153,000 after purchasing an additional 327,498 shares during the last quarter. Janus Henderson Group PLC increased its stake in IDEAYA Biosciences by 13.5% in the fourth quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company’s stock valued at $150,606,000 after acquiring an additional 695,263 shares during the last quarter. Vanguard Group Inc. raised its position in IDEAYA Biosciences by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company’s stock valued at $130,507,000 after purchasing an additional 282,936 shares in the last quarter. State Street Corp lifted its stake in IDEAYA Biosciences by 15.4% during the third quarter. State Street Corp now owns 3,317,936 shares of the company’s stock worth $105,112,000 after purchasing an additional 443,640 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its holdings in shares of IDEAYA Biosciences by 5.5% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,736,000 shares of the company’s stock worth $70,315,000 after purchasing an additional 142,000 shares in the last quarter. Hedge funds and other 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.