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

Key Points

• IDEAYA Biosciences, Inc. has received a consensus recommendation of "Moderate Buy" from 13 brokerages, with a target price averaging $48.09 per share.
• The company recently missed earnings estimates, posting a loss of ($0.88) per share despite higher-than-expected revenue of $6.00 million.
• Institutional investors hold 98.29% of IDEAYA's stock, with notable increases in holdings by firms like FMR LLC and Janus Henderson Group.

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $48.0909.

Several brokerages have recently commented on IDYA. JPMorgan Chase & Co. boosted their target price on IDEAYA Biosciences from $66.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 price objective on the stock in a research note on Thursday, July 10th. TD Cowen started coverage on IDEAYA Biosciences in a research note on Tuesday, July 22nd. They issued a "buy" rating for the company. Wells Fargo & Company began coverage on IDEAYA Biosciences in a report on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price target for the company. Finally, Royal Bank Of Canada raised shares of IDEAYA Biosciences from an "outperform" rating to a "moderate buy" rating and decreased their price objective for the stock from $57.00 to $30.00 in a report on Wednesday, July 9th.

IDEAYA Biosciences Stock Up 0.9%

IDEAYA Biosciences stock traded up $0.20 on Tuesday, hitting $22.61. The company's stock had a trading volume of 224,720 shares, compared to its average volume of 1,152,885. IDEAYA Biosciences has a one year low of $13.45 and a one year high of $40.74. The firm has a market cap of $1.98 billion, a P/E ratio of -5.97 and a beta of 0.09. The company has a fifty day moving average price of $22.42 and a 200-day moving average price of $20.38.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.03). The business had revenue of $6.00 million for the quarter, compared to analysts' expectations of $3.48 million. During the same period last year, the company posted ($0.68) EPS. The firm's revenue for the quarter was up NaN% on a year-over-year basis. Analysts anticipate that IDEAYA Biosciences will post -3.07 EPS for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDYA. Raymond James Financial Inc. bought a new stake in IDEAYA Biosciences in the 4th quarter valued at approximately $431,000. Vanguard Group Inc. raised its holdings in shares of IDEAYA Biosciences by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 5,078,084 shares of the company's stock valued at $130,507,000 after purchasing an additional 282,936 shares during the period. JPMorgan Chase & Co. lifted its stake in IDEAYA Biosciences by 244.3% in the 4th quarter. JPMorgan Chase & Co. now owns 274,693 shares of the company's stock valued at $7,060,000 after purchasing an additional 194,913 shares during the last quarter. Norges Bank bought a new position in IDEAYA Biosciences during the fourth quarter worth about $13,385,000. Finally, Geode Capital Management LLC increased its position in IDEAYA Biosciences by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,988,681 shares of the company's stock worth $51,121,000 after buying an additional 43,226 shares during the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

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.