IDEAYA Biosciences (NASDAQ:IDYA) Stock Price Expected to Rise, Guggenheim Analyst Says

Key Points

• Guggenheim raised its price target on IDEAYA from $50 to $54 and kept a "buy" rating, implying roughly a 64.5% potential upside from the current price.
• OptimUM‑02 topline results showed a PFS benefit in HLA‑A*02:01‑negative metastatic uveal melanoma, driving broad media coverage and a strong stock reaction, though analysts warn that regulatory approval is not automatic.
• IDEAYA beat recent quarterly estimates (EPS -$0.94 vs. -$1.03; revenue $10.88M, +55.7% YoY), saw insider buying (Director Jeffrey Stein purchased 50,000 shares), and has very high institutional ownership (~98.29%).

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) had its target price raised by Guggenheim from $50.00 to $54.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's target price indicates a potential upside of 64.53% from the stock's current price.

IDYA has been the subject of several other reports. UBS Group initiated coverage on IDEAYA Biosciences in a research report on Wednesday, January 7th. They set a "buy" rating and a $50.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of IDEAYA Biosciences in a research note on Thursday, January 22nd. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a research note on Wednesday, February 18th. Truist Financial set a $65.00 target price on shares of IDEAYA Biosciences in a research report on Monday. Finally, Wall Street Zen lowered shares of IDEAYA Biosciences from a "buy" rating to a "sell" rating in a research note on Saturday, February 21st. Fifteen research 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $49.50.

IDEAYA Biosciences Stock Performance

IDYA stock opened at $32.82 on Tuesday. IDEAYA Biosciences has a 1 year low of $15.84 and a 1 year high of $39.28. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of -25.05 and a beta of 0.02. The stock's fifty day moving average is $32.41 and its two-hundred day moving average is $32.58.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $5.95 million. During the same quarter in the prior year, the company posted ($1.49) EPS. The firm's revenue was up 55.7% on a year-over-year basis. As a group, analysts predict that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Insider Buying and Selling

In other IDEAYA Biosciences news, Director Jeffrey Stein purchased 50,000 shares of the company's stock in a transaction on Monday, March 2nd. The shares were purchased at an average cost of $32.96 per share, for a total transaction of $1,648,000.00. Following the completion of the transaction, the director owned 54,281 shares in the company, valued at $1,789,101.76. The trade was a 1,167.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.50% of the company's stock.

Institutional Trading of IDEAYA Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in shares of IDEAYA Biosciences by 11.8% in the fourth quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company's stock valued at $248,344,000 after buying an additional 758,117 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of IDEAYA Biosciences by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company's stock worth $173,518,000 after acquiring an additional 97,116 shares in the last quarter. State Street Corp grew its holdings in shares of IDEAYA Biosciences by 27.6% in the 4th quarter. State Street Corp now owns 4,134,641 shares of the company's stock worth $142,935,000 after acquiring an additional 893,707 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in shares of IDEAYA Biosciences by 10.5% in the 4th quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company's stock worth $125,103,000 after acquiring an additional 343,382 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of IDEAYA Biosciences by 32.6% during the fourth quarter. Fiera Capital Corp now owns 2,437,262 shares of the company's stock worth $84,256,000 after purchasing an additional 599,295 shares during the period. 98.29% of the stock is owned by institutional investors and hedge funds.

Key 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

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.

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