Brokerages Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Target Price at $54.27

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $54.27.

Separately, JPMorgan Chase & Co. increased their price objective on IDEAYA Biosciences from $63.00 to $66.00 and gave the company an "overweight" rating in a research report on Thursday, May 22nd.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock traded down $0.06 during mid-day trading on Monday, hitting $21.86. 1,046,553 shares of the stock traded hands, compared to its average volume of 1,029,630. IDEAYA Biosciences has a twelve month low of $13.45 and a twelve month high of $44.42. The company's 50-day simple moving average is $19.34 and its 200-day simple moving average is $21.05. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -6.09 and a beta of 0.04.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.07). During the same period in the previous year, the business earned ($0.53) earnings per share. Analysts forecast that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Institutional Trading of IDEAYA Biosciences

A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its stake in IDEAYA Biosciences by 13.5% in the 4th quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company's stock valued at $150,606,000 after buying an additional 695,263 shares during the period. Norges Bank purchased a new position in shares of IDEAYA Biosciences during the 4th quarter valued at $13,385,000. Millennium Management LLC increased its stake in shares of IDEAYA Biosciences by 345.2% in the first quarter. Millennium Management LLC now owns 547,637 shares of the company's stock worth $8,970,000 after acquiring an additional 424,625 shares during the last quarter. MPM Bioimpact LLC acquired a new position in shares of IDEAYA Biosciences in the fourth quarter worth $10,641,000. Finally, FMR LLC raised its holdings in shares of IDEAYA Biosciences by 2.6% during the fourth quarter. FMR LLC now owns 12,963,151 shares of the company's stock worth $333,153,000 after acquiring an additional 327,498 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.