IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Stock Has Consensus Target Price of $51.09

Key Points

• Analysts remain broadly positive: IDEAYA Biosciences has a “Moderate Buy” consensus from 15 analysts, with 13 buy ratings, one hold and one sell. The average 12-month price target is $51.09, although several firms recently reduced their targets.
• Quarterly results were mixed: The company reported an $8.86 million revenue, well above expectations and up sharply year over year, but its adjusted loss of $1.22 per share missed the $1.06 consensus estimate.
• Institutional ownership is substantial: Institutional investors own 98.29% of the stock, with several funds increasing their positions. CEO Yujiro Hata sold about $985,000 worth of shares, reducing his holdings by 3.67%.

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) has received an average recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $51.09.

A number of brokerages have commented on IDYA. Truist Financial reduced their price target on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Royal Bank Of Canada lowered their price objective on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an "outperform" rating for the company in a report on Tuesday, July 7th. 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. Cantor Fitzgerald reissued an "overweight" rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 22nd. Finally, Jefferies Financial Group restated a "buy" rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 1st.

IDEAYA Biosciences Trading Up 1.4%

IDYA stock opened at $33.96 on Thursday. The firm has a 50 day moving average of $37.51 and a 200-day moving average of $34.14. The firm has a market capitalization of $2.98 billion, a P/E ratio of -17.51 and a beta of -0.04. IDEAYA Biosciences has a 12 month low of $26.81 and a 12 month high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly 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). IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The business had revenue of $8.86 million during the quarter, compared to analysts' expectations of $8.02 million. During the same period in the previous year, the business earned ($0.88) EPS. The business's revenue was up 8800.0% on a year-over-year basis. Sell-side analysts predict that IDEAYA Biosciences will post -4.52 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Yujiro Hata sold 26,338 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $37.41, for a total transaction of $985,304.58. Following the completion of the sale, the chief executive officer owned 690,695 shares of the company's stock, valued at approximately $25,838,899.95. This represents a 3.67% 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. Insiders own 4.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IDYA. China Universal Asset Management Co. Ltd. grew its holdings in IDEAYA Biosciences by 23.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,856 shares of the company's stock worth $714,000 after acquiring an additional 3,613 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of IDEAYA Biosciences by 20.5% in the third quarter. Sterling Capital Management LLC now owns 1,873 shares of the company's stock valued at $72,000 after acquiring an additional 319 shares during the period. GAMMA Investing LLC increased its position in shares of IDEAYA Biosciences by 79.0% in the third quarter. GAMMA Investing LLC now owns 2,315 shares of the company's stock valued at $89,000 after acquiring an additional 1,022 shares during the period. Congress Asset Management Co. raised its stake in shares of IDEAYA Biosciences by 25.5% during the third quarter. Congress Asset Management Co. now owns 147,696 shares of the company's stock valued at $5,674,000 after acquiring an additional 29,983 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of IDEAYA Biosciences by 21.0% during the second quarter. Tidal Investments LLC now owns 135,847 shares of the company's stock valued at $5,063,000 after acquiring an additional 23,538 shares during the last quarter. Institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc NASDAQ: IDYA is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company's pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.

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