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

Key Points

• IDEAYA received a consensus "Moderate Buy" from 17 covering analysts (15 buys, 1 hold, 1 sell) with an average 12‑month target price of $48.69.
• Director Jeffrey Stein purchased 50,000 shares at $32.96 on March 2, materially increasing his stake; insiders now own about 2.50% of the company.
• In the latest quarter IDEAYA reported EPS of -$0.94 (beating estimates) and revenue of $21.75M versus $5.95M expected, up 55.7% year‑over‑year, while institutional investors and hedge funds own roughly 98.29% of the stock.

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seventeen ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $48.6875.

IDYA has been the topic of several research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of IDEAYA Biosciences in a report on Thursday, January 22nd. UBS Group initiated coverage on shares of IDEAYA Biosciences in a report on Wednesday, January 7th. They set a "buy" rating and a $50.00 price objective on the stock. Guggenheim reissued a "buy" rating and set a $50.00 price objective on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Wedbush reissued an "outperform" rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, March 31st. Finally, Wall Street Zen lowered shares of IDEAYA Biosciences from a "buy" rating to a "sell" rating in a report on Saturday, February 21st.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, Director Jeffrey Stein acquired 50,000 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average cost of $32.96 per share, with a total value of $1,648,000.00. Following the completion of the acquisition, the director directly owned 54,281 shares in the company, valued at $1,789,101.76. This represents a 1,167.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of IDYA. Royal Bank of Canada grew its holdings in IDEAYA Biosciences by 30.1% in the first quarter. Royal Bank of Canada now owns 122,460 shares of the company's stock worth $2,006,000 after purchasing an additional 28,322 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in IDEAYA Biosciences by 8.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,044 shares of the company's stock worth $938,000 after purchasing an additional 4,308 shares during the last quarter. Millennium Management LLC grew its holdings in 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 purchasing an additional 424,625 shares during the last quarter. American Century Companies Inc. grew its holdings in IDEAYA Biosciences by 862.7% in the second quarter. American Century Companies Inc. now owns 114,644 shares of the company's stock worth $2,410,000 after purchasing an additional 102,736 shares during the last quarter. Finally, Norges Bank purchased a new position in IDEAYA Biosciences in the second quarter worth $643,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock opened at $30.50 on Friday. The company has a market capitalization of $2.68 billion, a PE ratio of -23.28 and a beta of 0.02. The company has a 50 day moving average price of $32.44 and a 200-day moving average price of $32.48. IDEAYA Biosciences has a fifty-two week low of $15.33 and a fifty-two week high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.09. The business had revenue of $21.75 million for the quarter, compared to analysts' expectations of $5.95 million. The business's quarterly revenue was up 55.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.49) earnings per share. On average, analysts forecast that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

IDEAYA Biosciences Company Profile

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.