Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) PT at $56.00

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYAGet Free Report) have been assigned an average rating of “Buy” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $56.00.

A number of equities research analysts have weighed in on the company. Mizuho started coverage on IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective for the company. Wedbush cut their target price on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. BTIG Research lifted their price target on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Citigroup cut their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Oppenheimer decreased their target price on IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th.

Read Our Latest Stock Analysis on IDYA

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in IDEAYA Biosciences by 4.9% in the fourth quarter. Franklin Resources Inc. now owns 27,237 shares of the company’s stock valued at $969,000 after buying an additional 1,260 shares during the last quarter. TD Asset Management Inc lifted its position in IDEAYA Biosciences by 21.1% in the 4th quarter. TD Asset Management Inc now owns 137,690 shares of the company’s stock valued at $4,899,000 after purchasing an additional 24,034 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in IDEAYA Biosciences by 49.8% during the 4th quarter. Rafferty Asset Management LLC now owns 193,356 shares of the company’s stock valued at $6,880,000 after purchasing an additional 64,280 shares during the period. Capital Research Global Investors grew its position in IDEAYA Biosciences by 43.6% in the 4th quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock worth $70,337,000 after purchasing an additional 600,000 shares during the last quarter. Finally, Superstring Capital Management LP bought a new position in IDEAYA Biosciences in the 4th quarter worth about $8,941,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Up 5.6 %

Shares of NASDAQ:IDYA opened at $31.06 on Wednesday. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -15.45 and a beta of 0.82. The company has a 50 day moving average of $36.48 and a two-hundred day moving average of $38.59. IDEAYA Biosciences has a 52-week low of $23.41 and a 52-week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYAGet Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.52%. During the same quarter last year, the business earned ($0.50) EPS. On average, equities analysts anticipate that IDEAYA Biosciences will post -2.51 earnings per share for the current year.

About IDEAYA Biosciences

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IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.

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