IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $29.11 Consensus PT from Analysts

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA – Get Rating) have received a consensus rating of “Buy” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $29.40.

IDYA has been the subject of several research reports. The Goldman Sachs Group initiated coverage on shares of IDEAYA Biosciences in a research report on Wednesday. They issued a “buy” rating and a $32.00 price target for the company. Oppenheimer upped their price target on shares of IDEAYA Biosciences from $26.00 to $30.00 in a research report on Monday, April 24th. Citigroup upped their price target on shares of IDEAYA Biosciences from $26.00 to $29.00 in a research report on Friday, March 17th. Stifel Nicolaus upgraded shares of IDEAYA Biosciences from a “hold” rating to a “buy” rating and upped their price target for the company from $18.00 to $24.00 in a research report on Monday, April 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, March 8th.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its holdings in shares of IDEAYA Biosciences by 5.6% in the 1st quarter. Ameriprise Financial Inc. now owns 433,682 shares of the company’s stock valued at $5,954,000 after purchasing an additional 23,112 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of IDEAYA Biosciences by 30.1% in the 1st quarter. JPMorgan Chase & Co. now owns 36,423 shares of the company’s stock valued at $500,000 after purchasing an additional 8,434 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of IDEAYA Biosciences by 361.7% in the 1st quarter. Jane Street Group LLC now owns 63,182 shares of the company’s stock valued at $867,000 after purchasing an additional 49,496 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of IDEAYA Biosciences by 6.7% in the 1st quarter. Geode Capital Management LLC now owns 859,934 shares of the company’s stock valued at $11,807,000 after purchasing an additional 54,033 shares in the last quarter. Finally, BVF Inc. IL increased its holdings in shares of IDEAYA Biosciences by 11.3% in the 1st quarter. BVF Inc. IL now owns 2,455,089 shares of the company’s stock valued at $33,708,000 after purchasing an additional 250,000 shares in the last quarter. Hedge funds and other institutional investors own 94.20% of the company’s stock.

IDEAYA Biosciences Trading Down 4.3 %

Shares of NASDAQ:IDYA opened at $21.63 on Friday. The company has a market capitalization of $1.24 billion, a PE ratio of -14.23 and a beta of 0.85. IDEAYA Biosciences has a twelve month low of $9.00 and a twelve month high of $23.08. The firm has a 50 day simple moving average of $17.24 and a 200-day simple moving average of $17.28.

IDEAYA Biosciences (NASDAQ:IDYA – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.03. The business had revenue of $7.90 million during the quarter, compared to the consensus estimate of $5.38 million. IDEAYA Biosciences had a negative net margin of 143.90% and a negative return on equity of 20.67%. The company’s quarterly revenue was up 97.5% compared to the same quarter last year. As a group, equities research analysts predict that IDEAYA Biosciences will post -2.02 EPS for the current fiscal year.

IDEAYA Biosciences Company Profile

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IDEAYA Biosciences, Inc engages in the research and development of oncology-focused precision medicine. The firm focuses on the targeted therapeutics for patients selected using molecular diagnostics. Its product candidate, IDE196, is a protein kinase C inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.