Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Price Target at $46.60

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been given a consensus rating of “Buy” by the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $47.50.

A number of equities research analysts have recently commented on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of IDEAYA Biosciences in a research note on Friday, February 23rd. Citigroup upped their price target on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on IDEAYA Biosciences from $51.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Royal Bank of Canada raised their target price on IDEAYA Biosciences from $43.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Finally, Capital One Financial restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Thursday, February 22nd.

IDEAYA Biosciences Stock Down 1.9 %

Shares of NASDAQ:IDYA opened at $40.64 on Friday. The business has a fifty day simple moving average of $42.57 and a 200 day simple moving average of $38.40. IDEAYA Biosciences has a 12-month low of $20.68 and a 12-month high of $47.74. The firm has a market cap of $3.04 billion, a P/E ratio of -20.22 and a beta of 0.83.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 23.00% and a negative net margin of 483.05%. The firm’s revenue was down 100.0% compared to the same quarter last year. During the same period last year, the business earned ($0.49) earnings per share. As a group, equities research analysts expect that IDEAYA Biosciences will post -2.26 EPS for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. boosted its holdings in shares of IDEAYA Biosciences by 96.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,474 shares of the company’s stock worth $40,000 after buying an additional 723 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in IDEAYA Biosciences in the 1st quarter worth approximately $67,000. AJOVista LLC bought a new stake in IDEAYA Biosciences in the fourth quarter valued at approximately $99,000. SG Americas Securities LLC bought a new stake in IDEAYA Biosciences during the 1st quarter valued at $101,000. Finally, Exchange Traded Concepts LLC boosted its position in IDEAYA Biosciences by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,806 shares of the company’s stock valued at $171,000 after buying an additional 1,219 shares during the period. 98.29% of the stock is owned by hedge funds and other institutional investors.

About IDEAYA Biosciences

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.