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

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

Several equities research analysts have recently issued reports on IDYA shares. Leerink Partnrs downgraded IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. UBS Group started coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They issued a “buy” rating and a $50.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Wedbush restated an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in IDEAYA Biosciences by 12.1% in the third quarter. FMR LLC now owns 12,635,653 shares of the company’s stock valued at $400,297,000 after buying an additional 1,365,570 shares in the last quarter. Janus Henderson Group PLC grew its holdings in IDEAYA Biosciences by 26.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock worth $163,518,000 after acquiring an additional 1,086,356 shares during the last quarter. State Street Corp increased its position in IDEAYA Biosciences by 15.4% in the 3rd quarter. State Street Corp now owns 3,317,936 shares of the company’s stock valued at $105,112,000 after acquiring an additional 443,640 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of IDEAYA Biosciences by 9.8% in the third quarter. Geode Capital Management LLC now owns 1,945,455 shares of the company’s stock worth $61,645,000 after acquiring an additional 172,838 shares during the last quarter. Finally, Logos Global Management LP lifted its position in shares of IDEAYA Biosciences by 13.3% during the second quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock worth $59,687,000 after purchasing an additional 200,000 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

IDYA opened at $24.85 on Friday. The firm has a market cap of $2.15 billion, a P/E ratio of -10.67 and a beta of 0.82. The business has a 50 day moving average price of $26.98 and a 200 day moving average price of $32.77. IDEAYA Biosciences has a twelve month low of $24.20 and a twelve month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data 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 last year, the firm earned ($0.46) earnings per share. As a group, analysts anticipate that IDEAYA Biosciences will post -2.45 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.