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

Key Points

• Analyst sentiment is moderately bullish: 13 of 15 analysts rate IDEAYA Biosciences a buy, with an average 12-month price target of $52.69 versus the stock’s $37.36 opening price.
• Recent ratings included upgraded price targets from Guggenheim and Wedbush, although the company also received sell ratings from Weiss Ratings and Wall Street Zen.
• IDEAYA reported a quarterly loss of $1.22 per share, missing estimates of $1.06, while revenue reached $8.86 million and grew sharply year over year. Institutional investors own 98.29% of the company, and an insider recently sold 9,550 shares.

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) have earned an average recommendation of "Moderate Buy" from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $52.69.

A number of analysts have recently commented on IDYA shares. Guggenheim lifted their price target on IDEAYA Biosciences from $54.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of IDEAYA Biosciences in a report on Friday, July 17th. Citizens Jmp restated a "market outperform" rating and issued a $42.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, September 1st. Wall Street Zen downgraded shares of IDEAYA Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Wedbush lifted their price target on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CAO Andres Ruiz Briseno sold 9,550 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $382,095.50. Following the transaction, the chief accounting officer directly owned 26,466 shares of the company's stock, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC increased its position in IDEAYA Biosciences by 21.0% during the 2nd quarter. Tidal Investments LLC now owns 135,847 shares of the company's stock valued at $5,063,000 after purchasing an additional 23,538 shares during the period. Nykredit A S acquired a new position in shares of IDEAYA Biosciences in the 2nd quarter worth approximately $76,000. Allianz Asset Management GmbH acquired a new position in shares of IDEAYA Biosciences in the 2nd quarter worth approximately $745,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of IDEAYA Biosciences in the 2nd quarter valued at $1,452,000. Finally, AXQ Capital LP bought a new stake in shares of IDEAYA Biosciences in the 2nd quarter valued at $753,000. Institutional investors and hedge funds own 98.29% of the company's stock.

IDEAYA Biosciences Stock Performance

IDYA opened at $37.36 on Friday. IDEAYA Biosciences has a 52-week low of $26.05 and a 52-week high of $42.68. The firm has a market cap of $3.28 billion, a P/E ratio of -19.26 and a beta of -0.04. The business's fifty day moving average is $38.09 and its 200-day moving average is $34.20.

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

About IDEAYA Biosciences

IDEAYA Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company uses insights from tumor biology, cancer genetics and synthetic lethality to identify treatments designed to target specific molecular alterations in tumors.

Its development pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily in genetically defined cancers, including GNAQ- or GNA11-mutated uveal melanoma.

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