Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Target Price at $32.88

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been assigned an average recommendation of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $32.88.

A number of research firms have recently issued reports on IDYA. Stifel Nicolaus initiated coverage on IDEAYA Biosciences in a research note on Wednesday, September 22nd. They issued a “hold” rating and a $27.00 target price for the company. Zacks Investment Research upgraded IDEAYA Biosciences from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 26th. Finally, Roth Capital raised their price objective on IDEAYA Biosciences from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 8th.

IDYA stock opened at $17.82 on Wednesday. IDEAYA Biosciences has a 1 year low of $16.21 and a 1 year high of $28.00. The firm has a market cap of $686.02 million, a P/E ratio of -16.20 and a beta of 1.56. The stock has a 50-day simple moving average of $22.14 and a 200-day simple moving average of $22.96.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Monday, November 15th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.01). IDEAYA Biosciences had a negative net margin of 103.19% and a negative return on equity of 14.83%. The company had revenue of $8.98 million during the quarter, compared to analyst estimates of $9.49 million. As a group, research analysts expect that IDEAYA Biosciences will post -1.23 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in shares of IDEAYA Biosciences by 0.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 68,996 shares of the company’s stock worth $1,448,000 after acquiring an additional 591 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of IDEAYA Biosciences by 4.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,114 shares of the company’s stock worth $436,000 after acquiring an additional 681 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of IDEAYA Biosciences by 51.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,201 shares of the company’s stock worth $46,000 after acquiring an additional 744 shares in the last quarter. Redmond Asset Management LLC grew its position in shares of IDEAYA Biosciences by 10.2% in the 3rd quarter. Redmond Asset Management LLC now owns 11,966 shares of the company’s stock worth $305,000 after acquiring an additional 1,112 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of IDEAYA Biosciences by 82.8% in the 2nd quarter. Legal & General Group Plc now owns 2,942 shares of the company’s stock worth $62,000 after acquiring an additional 1,333 shares in the last quarter. Institutional investors own 87.15% of the company’s stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc engages in the research and development of oncology-focused precision medicine. The firm focuses on the targeted therapeutics for patients selected using molecular diagnostics. Its product candidate, IDE196, is a protein kinase C inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.

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Analyst Recommendations for IDEAYA Biosciences (NASDAQ:IDYA)

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