Wedbush Forecasts Strong Price Appreciation for IDEAYA Biosciences (NASDAQ:IDYA) Stock

Key Points

• Wedbush raised its price target on IDEAYA to $58 (from $52) and kept an "outperform" rating, implying about a 85.25% upside from the stock's current price.
• IDEAYA announced positive topline OptimUM‑02 results showing a PFS benefit in the HLA‑A*02:01‑negative mUM population, driving broad media coverage and strong stock moves, although analysts caution that regulatory approval is not automatic.
• Analyst sentiment is mixed but tilted positive: 15 Buy, 1 Hold and 1 Sell, with an average price target of $49.88 and a MarketBeat average rating of "Moderate Buy."

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) had its price objective lifted by Wedbush from $52.00 to $58.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's price objective suggests a potential upside of 85.25% from the stock's current price.

Several other brokerages also recently weighed in on IDYA. Weiss Ratings restated a "sell (d-)" rating on shares of IDEAYA Biosciences in a research note on Thursday, January 22nd. Wall Street Zen cut shares of IDEAYA Biosciences from a "buy" rating to a "sell" rating in a report on Saturday, February 21st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a report on Tuesday. Finally, Guggenheim raised their price target on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $49.88.

IDEAYA Biosciences Stock Down 4.6%

Shares of IDYA opened at $31.31 on Tuesday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -23.90 and a beta of 0.02. IDEAYA Biosciences has a twelve month low of $15.84 and a twelve month high of $39.28. The company has a 50 day moving average of $32.41 and a two-hundred day moving average of $32.58.

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

Insider Activity

In other IDEAYA Biosciences news, Director Jeffrey Stein bought 50,000 shares of IDEAYA Biosciences stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price 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 approximately $1,789,101.76. This trade represents a 1,167.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. raised its holdings in shares of IDEAYA Biosciences by 1,071.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,795 shares of the company's stock worth $131,000 after purchasing an additional 3,471 shares during the last quarter. Flax Pond Capital LLC acquired a new stake in IDEAYA Biosciences during the fourth quarter valued at $1,353,000. Invesco Ltd. grew its position in IDEAYA Biosciences by 91.9% during the fourth quarter. Invesco Ltd. now owns 238,314 shares of the company's stock valued at $8,239,000 after buying an additional 114,118 shares during the period. XTX Topco Ltd acquired a new stake in IDEAYA Biosciences during the fourth quarter valued at $2,288,000. Finally, Virtus Investment Advisers LLC grew its position in IDEAYA Biosciences by 53.1% during the fourth quarter. Virtus Investment Advisers LLC now owns 7,819 shares of the company's stock valued at $270,000 after buying an additional 2,712 shares during the period. Hedge funds and other institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences News Roundup

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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