IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives $53.67 Consensus Target Price from Analysts

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $53.67.

A number of research firms have recently commented on IDYA. UBS Group began coverage on shares of IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Stephens initiated coverage on shares of IDEAYA Biosciences in a research note on Monday, November 18th. They set an “overweight” rating and a $51.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Leerink Partnrs lowered shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDYA. Millennium Management LLC boosted its position in IDEAYA Biosciences by 87.1% during the second quarter. Millennium Management LLC now owns 258,606 shares of the company’s stock worth $9,080,000 after purchasing an additional 120,395 shares during the period. Creative Planning bought a new position in IDEAYA Biosciences during the third quarter worth about $275,000. Values First Advisors Inc. bought a new position in IDEAYA Biosciences during the third quarter worth about $74,000. Allworth Financial LP boosted its position in IDEAYA Biosciences by 800.0% during the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 800 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in IDEAYA Biosciences by 35.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock worth $94,000 after purchasing an additional 796 shares during the period. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ IDYA opened at $22.42 on Tuesday. IDEAYA Biosciences has a 52-week low of $22.10 and a 52-week high of $47.74. The firm has a 50 day moving average price of $24.94 and a two-hundred day moving average price of $30.52. The stock has a market cap of $1.94 billion, a P/E ratio of -9.62 and a beta of 0.82.

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.