IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is broadly positive: Fifteen firms rate IDEAYA Biosciences at an average “Moderate Buy,” with 13 buys, one hold, and one sell. The average 12-month price target is $52.46 versus the stock’s reported price of $38.84.
• Institutional ownership is substantial: Hedge funds and other institutions own 98.29% of the company, with major new positions from BlackRock and Jupiter Topco. An IDEAYA chief accounting officer sold 9,550 shares, reducing their direct ownership by 26.52%.
• The company remains loss-making but is growing revenue: IDEAYA reported quarterly revenue of $8.86 million, up sharply year over year and above estimates, but missed earnings expectations with a loss of $1.22 per share. Analysts expect a full-year loss of approximately $4.38 per share.

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fifteen research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $52.4615.

IDYA has been the subject of several research reports. Jefferies Financial Group reissued a "buy" rating on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Citizens Jmp reiterated a "market outperform" rating and issued a $42.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, September 1st. Royal Bank Of Canada dropped their price target on IDEAYA Biosciences from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Tuesday, July 7th. Citigroup restated a "market outperform" rating on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Finally, Wedbush lifted their price objective on IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th.

Insider Activity at IDEAYA Biosciences

In related news, CAO Andres Ruiz Briseno sold 9,550 shares of the firm's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the transaction, the chief accounting officer directly owned 26,466 shares of the company's stock, valued at approximately $1,058,904.66. This trade represents a 26.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.70% of the company's stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth about $331,452,000. Jupiter Topco LLC bought a new position in shares of IDEAYA Biosciences in the 2nd quarter valued at about $319,728,000. California State Teachers Retirement System lifted its holdings in shares of IDEAYA Biosciences by 3,522.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,500,995 shares of the company's stock valued at $130,482,000 after acquiring an additional 3,404,340 shares during the last quarter. GSK plc purchased a new position in IDEAYA Biosciences in the fourth quarter worth about $46,093,000. Finally, Bank of America Corp DE purchased a new position in IDEAYA Biosciences in the second quarter worth about $38,244,000. Hedge funds and other institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Stock Performance

IDYA stock opened at $38.84 on Wednesday. IDEAYA Biosciences has a one year low of $23.53 and a one year high of $42.68. The company's fifty day moving average price is $37.70 and its 200-day moving average price is $33.59. The company has a market capitalization of $3.41 billion, a PE ratio of -20.02 and a beta of -0.07.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The company had revenue of $8.86 million for the quarter, compared to analysts' expectations of $8.02 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The business's revenue was up 8800.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.88) earnings per share. On average, research analysts predict that IDEAYA Biosciences will post -4.38 EPS for the current fiscal year.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA's pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA's approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.

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