IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) have been assigned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $53.67.

IDYA has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, December 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Oppenheimer reissued an “outperform” rating and set a $53.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Finally, Leerink Partners downgraded shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $41.00 to $27.00 in a research note on Tuesday, November 5th.

IDEAYA Biosciences Trading Down 2.5 %

IDYA stock opened at $22.42 on Tuesday. The firm has a 50 day moving average of $24.94 and a 200-day moving average of $30.52. IDEAYA Biosciences has a 12 month low of $22.10 and a 12 month high of $47.74. The firm has a market capitalization of $1.94 billion, a P/E ratio of -9.62 and a beta of 0.82.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp purchased a new stake in IDEAYA Biosciences during the 4th quarter valued at approximately $203,000. Swiss National Bank lifted its position in shares of IDEAYA Biosciences by 12.4% during the fourth quarter. Swiss National Bank now owns 149,600 shares of the company’s stock worth $3,845,000 after purchasing an additional 16,500 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of IDEAYA Biosciences by 44.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,792 shares of the company’s stock worth $72,000 after purchasing an additional 853 shares during the last quarter. Candriam S.C.A. raised its holdings in shares of IDEAYA Biosciences by 14.0% in the fourth quarter. Candriam S.C.A. now owns 1,071,825 shares of the company’s stock valued at $27,546,000 after acquiring an additional 131,385 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of IDEAYA Biosciences in the fourth quarter valued at about $431,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile

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.