IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $53.67.

A number of equities analysts recently weighed in on the stock. Leerink Partnrs lowered shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Wedbush reaffirmed an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a report on Monday, November 4th. Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Oppenheimer restated an “outperform” rating and set a $53.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP grew its holdings in IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after acquiring an additional 800 shares in the last quarter. Covestor Ltd grew its stake in IDEAYA Biosciences by 23,050.0% in the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after acquiring an additional 922 shares during the last quarter. Quest Partners LLC acquired a new stake in IDEAYA Biosciences in the 2nd quarter valued at about $41,000. US Bancorp DE boosted its stake in shares of IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after purchasing an additional 689 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of IDEAYA Biosciences by 723.5% in the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after acquiring an additional 1,324 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Trading Down 1.2 %

IDEAYA Biosciences stock opened at $25.54 on Thursday. The firm has a 50-day moving average of $30.79 and a 200-day moving average of $36.00. The firm has a market cap of $2.21 billion, a P/E ratio of -10.96 and a beta of 0.86. IDEAYA Biosciences has a 1-year low of $25.35 and a 1-year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the previous year, the business earned ($0.46) EPS. Research analysts forecast that IDEAYA Biosciences will post -2.46 earnings per share for the current fiscal 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.