IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $52.00

IDEAYA Biosciences (NASDAQ:IDYA) had its price target raised by Wedbush from $49.00 to $52.00 in a research note released on Wednesday morning, Marketbeat.com reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on IDYA. Wall Street Zen upgraded shares of IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. UBS Group initiated coverage on IDEAYA Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. boosted their price target on IDEAYA Biosciences from $74.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. New Street Research set a $30.00 price objective on IDEAYA Biosciences in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group raised their target price on shares of IDEAYA Biosciences from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.69.

IDEAYA Biosciences Stock Performance

Shares of IDEAYA Biosciences stock opened at $31.98 on Wednesday. The firm has a market cap of $2.81 billion, a PE ratio of -24.41 and a beta of 0.10. The business’s 50 day simple moving average is $34.19 and its 200 day simple moving average is $30.51. IDEAYA Biosciences has a 52-week low of $13.45 and a 52-week high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.09. The business had revenue of $21.75 million for the quarter, compared to the consensus estimate of $5.95 million. IDEAYA Biosciences’s revenue was up 55.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.49) earnings per share. As a group, equities research analysts predict that IDEAYA Biosciences will post -3.07 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

A number of hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC grew its position in shares of IDEAYA Biosciences by 11.8% during the 4th quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company’s stock worth $248,344,000 after purchasing an additional 758,117 shares in the last quarter. Vanguard Group Inc. raised its position in shares of IDEAYA Biosciences by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock valued at $173,518,000 after buying an additional 97,116 shares in the last quarter. State Street Corp boosted its stake in shares of IDEAYA Biosciences by 27.6% in the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock valued at $142,935,000 after buying an additional 893,707 shares during the period. Baker BROS. Advisors LP grew its position in IDEAYA Biosciences by 10.5% during the fourth quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company’s stock worth $125,103,000 after buying an additional 343,382 shares in the last quarter. Finally, Fiera Capital Corp grew its position in IDEAYA Biosciences by 32.6% during the fourth quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock worth $84,256,000 after buying an additional 599,295 shares in the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.