IDEAYA Biosciences (NASDAQ:IDYA) Given New $48.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on IDEAYA to $48 (from $44) and kept an "overweight" rating, implying roughly a 53% upside
• OptimUM‑02 topline results from IDEAYA and Servier showed a PFS benefit in HLA‑A*02:01‑negative metastatic uveal melanoma, triggering broad media coverage and strong stock moves, though analysts warn regulatory approval is not automatic.
• Director Jeffrey Stein bought 50,000 shares at about $32.96 on March 2, substantially increasing his stake; insiders now own roughly 2.5% of the company.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) had its target price lifted by analysts at Wells Fargo & Company from $44.00 to $48.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 53.01% from the stock's previous close.

Several other brokerages also recently commented on IDYA. Royal Bank Of Canada lifted their target price on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Tuesday. Truist Financial set a $65.00 price target on shares of IDEAYA Biosciences in a report on Monday. Wall Street Zen downgraded shares of IDEAYA Biosciences from a "buy" rating to a "sell" rating in a report on Saturday, February 21st. Guggenheim increased their price target on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Fifteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $50.13.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA traded down $1.45 during midday trading on Tuesday, reaching $31.37. The stock had a trading volume of 1,160,212 shares, compared to its average volume of 1,076,347. The stock has a market capitalization of $2.75 billion, a P/E ratio of -23.95 and a beta of 0.02. IDEAYA Biosciences has a 1-year low of $15.84 and a 1-year high of $39.28. The firm's fifty day simple moving average is $32.41 and its 200-day simple moving average is $32.58.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last announced its earnings results on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.09. The firm had revenue of $10.88 million during the quarter, compared to the consensus estimate of $5.95 million. The business's revenue was up 55.7% compared to the same quarter last year. During the same quarter last year, the business earned ($1.49) EPS. On average, equities research analysts anticipate that IDEAYA Biosciences will post -3.07 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, Director Jeffrey Stein bought 50,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were acquired at an average price of $32.96 per share, with a total value of $1,648,000.00. Following the acquisition, the director owned 54,281 shares in the company, valued at $1,789,101.76. This trade represents a 1,167.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IDYA. Farther Finance Advisors LLC raised its position in shares of IDEAYA Biosciences by 171.1% in the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company's stock valued at $32,000 after acquiring an additional 580 shares during the period. ANTIPODES PARTNERS Ltd boosted its stake in IDEAYA Biosciences by 49.4% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company's stock worth $40,000 after acquiring an additional 380 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in IDEAYA Biosciences during the 3rd quarter worth approximately $38,000. Global Retirement Partners LLC bought a new position in IDEAYA Biosciences during the 4th quarter worth approximately $61,000. Finally, Abich Financial Wealth Management LLC bought a new position in IDEAYA Biosciences during the 3rd quarter worth approximately $58,000. Institutional investors own 98.29% of the company's stock.

More IDEAYA Biosciences News

Here are the key news stories impacting IDEAYA Biosciences this week:

• Positive Sentiment: Company press release: IDEAYA and Servier announced positive topline OptimUM‑02 results showing the PFS benefit and statistical significance, positioning the regimen as a registrational dataset in the HLA‑A*02:01‑negative mUM population. PR Newswire: OptimUM‑02 Topline Results
• Positive Sentiment: Broad media coverage and market reaction: major outlets (Barron’s, Investing.com, Yahoo, MSN) reported the trial success and noted strong stock moves as investors priced in a clearer regulatory/commercial pathway for a rare eye cancer with limited treatment options. Barron's: Stock Jumps on Trial Results
• Positive Sentiment: Multiple trade and financial news sites amplified the result (Investing.com, Blockonomi, Yahoo Finance), increasing visibility among retail and institutional investors and contributing to intraday buying pressure. Investing.com: Stock Surges on Trial Results
• Neutral Sentiment: Company presentation/transcript coverage: Seeking Alpha posted slides and a transcript of IDEAYA’s management discussion of OptimUM‑02 topline data, useful for investors wanting details on subgroup analyses, safety and next regulatory steps. Seeking Alpha: Slides/Transcript
• Negative Sentiment: Analyst/commentary caution: Some analysis (Seeking Alpha feature) warns that approval is not automatic — the trial targets an HLA‑A*02:01‑negative subgroup and regulators will review benefit/risk, safety, and breadth of data; investors should watch detailed datasets and regulatory guidance. Seeking Alpha: Approval Not a Formality

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.

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