IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Stock Has Consensus Target Price of $52.69 According to Brokerages

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $52.69.

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Friday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 22nd. Citizens Jmp reaffirmed a “market outperform” rating and set a $42.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Royal Bank Of Canada reduced their price objective on IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Finally, Guggenheim increased their price objective on IDEAYA Biosciences from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro Hata sold 26,338 shares of the business’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $37.41, for a total transaction of $985,304.58. Following the completion of the transaction, the chief executive officer owned 690,695 shares in the company, valued at approximately $25,838,899.95. The trade was a 3.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IDYA. Walleye Capital LLC bought a new position in IDEAYA Biosciences during the 2nd quarter valued at $14,393,000. Great Lakes Advisors LLC acquired a new stake in shares of IDEAYA Biosciences in the second quarter valued at $3,270,000. Man Group plc bought a new position in IDEAYA Biosciences during the second quarter valued at about $9,149,000. Bank of America Corp DE acquired a new position in IDEAYA Biosciences during the second quarter worth about $38,244,000. Finally, BlackRock Inc. bought a new stake in IDEAYA Biosciences in the second quarter worth about $331,452,000. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Stock Performance

NASDAQ IDYA opened at $36.06 on Friday. IDEAYA Biosciences has a one year low of $26.05 and a one year high of $42.68. The company has a 50-day simple moving average of $38.13 and a 200-day simple moving average of $34.29. The firm has a market capitalization of $3.17 billion, a PE ratio of -18.59 and a beta of -0.04.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%.The company had revenue of $8.86 million for the quarter, compared to analyst estimates of $8.02 million. During the same quarter in the previous year, the company posted ($0.88) earnings per share. The firm’s revenue for the quarter was up 8800.0% compared to the same quarter last year. Equities analysts forecast that IDEAYA Biosciences will post -4.38 earnings per share for the current year.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company uses insights from tumor biology, cancer genetics and synthetic lethality to identify treatments designed to target specific molecular alterations in tumors.

Its development pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily in genetically defined cancers, including GNAQ- or GNA11-mutated uveal melanoma.