Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) PT at $56.00

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been assigned an average rating of “Buy” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $56.00.

A number of equities research analysts have weighed in on the company. Mizuho started coverage on IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective for the company. Wedbush cut their target price on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. BTIG Research lifted their price target on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Citigroup cut their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Oppenheimer decreased their target price on IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in IDEAYA Biosciences by 4.9% in the fourth quarter. Franklin Resources Inc. now owns 27,237 shares of the company’s stock valued at $969,000 after buying an additional 1,260 shares during the last quarter. TD Asset Management Inc lifted its position in IDEAYA Biosciences by 21.1% in the 4th quarter. TD Asset Management Inc now owns 137,690 shares of the company’s stock valued at $4,899,000 after purchasing an additional 24,034 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in IDEAYA Biosciences by 49.8% during the 4th quarter. Rafferty Asset Management LLC now owns 193,356 shares of the company’s stock valued at $6,880,000 after purchasing an additional 64,280 shares during the period. Capital Research Global Investors grew its position in IDEAYA Biosciences by 43.6% in the 4th quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock worth $70,337,000 after purchasing an additional 600,000 shares during the last quarter. Finally, Superstring Capital Management LP bought a new position in IDEAYA Biosciences in the 4th quarter worth about $8,941,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Up 5.6 %

Shares of NASDAQ:IDYA opened at $31.06 on Wednesday. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -15.45 and a beta of 0.82. The company has a 50 day moving average of $36.48 and a two-hundred day moving average of $38.59. IDEAYA Biosciences has a 52-week low of $23.41 and a 52-week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released 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 net margin of 483.05% and a negative return on equity of 20.52%. During the same quarter last year, the business earned ($0.50) EPS. On average, equities analysts anticipate that IDEAYA Biosciences will post -2.51 earnings per share for the current 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.