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

Key Points

• IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has received a consensus rating of “Moderate Buy” from 17 brokerages, with 14 buy ratings and 3 holds.
• The average 12-month target price for IDEAYA's stock among analysts is $43.36, reflecting optimism about the company's prospects.
• Institutional investors hold 98.29% of IDEAYA's shares, indicating strong interest and confidence in the company's future.

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) has received an average recommendation of "Moderate Buy" from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $43.3571.

IDYA has been the topic of a number of recent analyst reports. 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. Mizuho lifted their price objective on IDEAYA Biosciences from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Citizens Jmp initiated coverage on IDEAYA Biosciences in a report on Thursday, September 4th. They set a "mkt outperform" rating and a $41.00 price objective on the stock. Guggenheim began coverage on IDEAYA Biosciences in a research note on Thursday, September 18th. They issued a "buy" rating and a $50.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 9th.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its stake in IDEAYA Biosciences by 33.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,560 shares of the company's stock valued at $189,000 after acquiring an additional 2,884 shares during the period. Rhumbline Advisers increased its stake in shares of IDEAYA Biosciences by 9.6% during the first quarter. Rhumbline Advisers now owns 124,437 shares of the company's stock worth $2,038,000 after purchasing an additional 10,876 shares during the period. Palumbo Wealth Management LLC grew its position in IDEAYA Biosciences by 65.8% during the first quarter. Palumbo Wealth Management LLC now owns 22,402 shares of the company's stock worth $367,000 after buying an additional 8,893 shares in the last quarter. American Century Companies Inc. bought a new position in shares of IDEAYA Biosciences in the 1st quarter valued at $195,000. Finally, Swiss National Bank boosted its holdings in shares of IDEAYA Biosciences by 0.8% during the 1st quarter. Swiss National Bank now owns 150,800 shares of the company's stock valued at $2,470,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Stock Up 0.0%

NASDAQ:IDYA opened at $25.93 on Wednesday. IDEAYA Biosciences has a 1-year low of $13.45 and a 1-year high of $33.85. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -6.84 and a beta of 0.12. The stock has a fifty day simple moving average of $24.40 and a 200 day simple moving average of $21.04.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $3.48 million. During the same period in the previous year, the firm earned ($0.68) EPS. The company's revenue for the quarter was up NaN% on a year-over-year basis. Equities analysts predict that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

About IDEAYA Biosciences

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.

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