Wedbush Issues Positive Forecast for IDEAYA Biosciences (NASDAQ:IDYA) Stock Price

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective lifted by Wedbush from $49.00 to $52.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 69.05% from the company’s current price.

Several other research analysts have also weighed in on IDYA. UBS Group assumed coverage on shares of IDEAYA Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price objective on the stock. Wall Street Zen raised shares of IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Truist Financial increased their price objective on IDEAYA Biosciences from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. BTIG Research restated a “buy” rating and issued a $62.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 21st. Finally, The Goldman Sachs Group upped their target price on IDEAYA Biosciences from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.33.

IDEAYA Biosciences Stock Up 1.6%

IDYA opened at $30.76 on Wednesday. The firm has a market cap of $2.70 billion, a PE ratio of -16.54 and a beta of 0.10. The business has a fifty day simple moving average of $34.30 and a 200-day simple moving average of $30.44. IDEAYA Biosciences has a fifty-two week low of $13.45 and a fifty-two week high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Thursday, February 12th. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.09. The firm had revenue of $21.75 million during the quarter, compared to analyst estimates of $5.95 million. During the same quarter in the previous year, the business earned ($1.49) earnings per share. The business’s quarterly revenue was up 55.7% compared to the same quarter last year. On average, equities research analysts anticipate that IDEAYA Biosciences will post -3.07 EPS for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in shares of IDEAYA Biosciences by 171.1% during the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after buying an additional 580 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its position in IDEAYA Biosciences by 49.4% during the fourth 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 period. Aster Capital Management DIFC Ltd acquired a new position in IDEAYA Biosciences during the 3rd quarter valued at $38,000. Global Retirement Partners LLC bought a new stake in IDEAYA Biosciences in the 4th quarter valued at $61,000. Finally, Abich Financial Wealth Management LLC bought a new stake in IDEAYA Biosciences in the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

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.