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

Key Points

• Analyst consensus is “Moderate Buy”: Fourteen of 16 brokerages rate IDEAYA Biosciences a buy, with one hold and one sell. The average 12-month price target is $50.13, above the reported share price of $36.30.
• Quarterly results were mixed: IDEAYA reported revenue of $8.86 million, exceeding expectations, but posted an adjusted loss of $1.22 per share versus the consensus loss estimate of $1.06. Analysts expect a full-year loss of approximately $4.38 per share.
• Institutional ownership remains very high: Hedge funds and other institutions own 98.29% of the stock, while insiders own 4.70%; recent major investors include BlackRock and Jupiter Topco.

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) have been given an average rating of "Moderate Buy" by the sixteen brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $50.1250.

Several brokerages have recently commented on IDYA. Citigroup restated a "market outperform" rating on shares of IDEAYA Biosciences in a report on Tuesday, June 2nd. Truist Financial dropped their target price on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Cantor Fitzgerald reissued an "overweight" rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Royal Bank Of Canada reduced their price target 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. Finally, Mizuho lowered their price target on shares of IDEAYA Biosciences from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, May 7th.

IDEAYA Biosciences Stock Down 1.0%

Shares of NASDAQ:IDYA opened at $36.30 on Friday. IDEAYA Biosciences has a 52-week low of $23.23 and a 52-week high of $40.58. The stock has a market cap of $3.19 billion, a P/E ratio of -18.71 and a beta of -0.10. The business's 50 day moving average is $35.19 and its 200 day moving average is $32.71.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $8.86 million for the quarter, compared to the consensus estimate of $8.02 million. During the same period last year, the firm earned ($0.88) earnings per share. The company's revenue for the quarter was up 8800.0% on a year-over-year basis. On average, sell-side analysts anticipate that IDEAYA Biosciences will post -4.38 EPS for the current fiscal year.

Insider Transactions at IDEAYA Biosciences

In related news, CAO Briseno Andres Ruiz sold 9,550 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the transaction, the chief accounting officer owned 26,466 shares of the company's stock, valued at $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IDYA. BlackRock Inc. purchased a new stake in shares of IDEAYA Biosciences during the 2nd quarter worth $331,452,000. Jupiter Topco LLC bought a new stake in IDEAYA Biosciences during the second quarter valued at about $319,728,000. Janus Henderson Group PLC grew its stake in IDEAYA Biosciences by 1.1% in the first quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company's stock valued at $242,023,000 after purchasing an additional 78,797 shares during the last quarter. Vanguard Group Inc. grew its stake in IDEAYA Biosciences by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company's stock valued at $173,518,000 after purchasing an additional 97,116 shares during the last quarter. Finally, State Street Corp raised its holdings in IDEAYA Biosciences by 27.6% in the fourth quarter. State Street Corp now owns 4,134,641 shares of the company's stock worth $142,935,000 after purchasing an additional 893,707 shares in the last quarter. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA's pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA's approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source