IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• IDEAYA Biosciences, Inc. has received an average rating of "Moderate Buy" from analysts, with nine brokers issuing buy ratings and an average price target of $47.10.
• Recent institutional investor activity includes significant share acquisitions, with Daiwa Securities increasing its position by 16.1% in the second quarter.
• The company's latest earnings report revealed a missed EPS estimate at ($0.88), although revenue of $6.00 million exceeded expectations of $3.48 million.

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) have received an average recommendation of "Moderate Buy" from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $47.10.

A number of equities analysts have issued reports on the company. Royal Bank Of Canada raised IDEAYA Biosciences from an "outperform" rating to a "moderate buy" rating and lowered their target price for the stock from $57.00 to $30.00 in a report on Wednesday, July 9th. JPMorgan Chase & Co. upped 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. Wells Fargo & Company assumed coverage on IDEAYA Biosciences in a report on Thursday, June 26th. They issued an "overweight" rating and a $44.00 target price for the company. TD Cowen assumed coverage on IDEAYA Biosciences in a report on Tuesday, July 22nd. They issued a "buy" rating for the company. Finally, The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 target price for the company in a report on Thursday, July 10th.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. grew its position in shares of IDEAYA Biosciences by 16.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company's stock valued at $66,000 after buying an additional 436 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of IDEAYA Biosciences by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,483 shares of the company's stock valued at $123,000 after buying an additional 627 shares during the last quarter. CWM LLC grew its position in shares of IDEAYA Biosciences by 33.0% in the 2nd quarter. CWM LLC now owns 3,153 shares of the company's stock valued at $66,000 after buying an additional 782 shares during the last quarter. Mariner LLC grew its position in shares of IDEAYA Biosciences by 9.8% in the 4th quarter. Mariner LLC now owns 9,775 shares of the company's stock valued at $251,000 after buying an additional 869 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its position in shares of IDEAYA Biosciences by 7.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company's stock valued at $257,000 after buying an additional 881 shares during the last quarter. Institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $24.55 on Friday. IDEAYA Biosciences has a 52 week low of $13.45 and a 52 week high of $40.25. The stock has a market capitalization of $2.15 billion, a P/E ratio of -6.48 and a beta of 0.09. The stock has a fifty day moving average of $23.26 and a 200-day moving average of $20.47.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.