IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Stock Has Consensus Target Price of $51.09

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $49.91.

A number of equities analysts have recently commented on IDYA shares. Citigroup reaffirmed a “market outperform” rating on shares of IDEAYA Biosciences in a report on Monday, October 19th. Citizens Jmp reissued a “market outperform” rating and set a $42.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, September 1st. William Blair started coverage on shares of IDEAYA Biosciences in a research note on Friday, October 16th. They issued an “outperform” rating on the stock. Stifel Nicolaus initiated coverage on shares of IDEAYA Biosciences in a report on Wednesday, October 14th. They issued a “buy” rating and a $48.00 target price for the company. Finally, Royal Bank Of Canada reduced their target price on shares of IDEAYA Biosciences from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro Hata sold 26,338 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 690,695 shares of the company’s stock, valued at $25,838,899.95. This represents a 3.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth about $43,000. Sterling Capital Management LLC boosted its stake in IDEAYA Biosciences by 20.5% during the 3rd quarter. Sterling Capital Management LLC now owns 1,873 shares of the company’s stock valued at $72,000 after purchasing an additional 319 shares during the period. Nykredit A S acquired a new position in IDEAYA Biosciences during the 2nd quarter valued at about $76,000. GAMMA Investing LLC boosted its stake in IDEAYA Biosciences by 79.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,315 shares of the company’s stock valued at $89,000 after purchasing an additional 1,022 shares during the period. Finally, Fifth Third Bancorp bought a new position in IDEAYA Biosciences in the 1st quarter worth about $84,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Stock Performance

NASDAQ IDYA opened at $32.36 on Thursday. The company has a fifty day moving average of $36.71 and a two-hundred day moving average of $34.03. IDEAYA Biosciences has a 1 year low of $26.81 and a 1 year high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, November 3rd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.04). IDEAYA Biosciences had a negative return on equity of 40.15% and a negative net margin of 1,157.18%. The firm had revenue of $10.24 million for the quarter, compared to analyst estimates of $7.58 million. During the same quarter last year, the firm posted $1.33 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, analysts predict that IDEAYA Biosciences will post -4.52 EPS for the current year.

Key Stories Impacting IDEAYA Biosciences

Here are the key news stories impacting IDEAYA Biosciences this week:

• Positive Sentiment: IDEAYA said it completed its NDA submission for darovasertib plus crizotinib in metastatic uveal melanoma and highlighted encouraging data for IDE849 in relapsed small-cell lung cancer. It ended September with $1.15 billion in cash and reiterated runway into 2030, supporting development plans. Third-quarter results and business update
• Positive Sentiment: Wedbush raised its price target to $63 from $60 and maintained an “outperform” rating, signaling continued confidence in the shares. Wedbush analyst ratings
• Neutral Sentiment: Third-quarter revenue was $10.24 million, above estimates of about $7.6 million and up 14.6% year over year. The reported loss was $1.22 per share; analyst estimates cited in the reports ranged from a $1.18 to $1.26 loss, making the earnings comparison mixed. Third-quarter results
• Neutral Sentiment: The company plans to participate in investor-relations events in November; the announcement itself did not provide a material new financial or clinical update. Investor-relations events announcement
• Negative Sentiment: Royal Bank of Canada cut its target to $45 from $48 while keeping “outperform,” and Guggenheim lowered its target to $52 from $57 while retaining “buy.” The lower targets may temper sentiment, although both firms kept favorable ratings. Analyst price-target coverage

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc (NASDAQ:IDYA) is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company’s pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.