IDEAYA Biosciences (NASDAQ:IDYA) Given New $52.00 Price Target at Wedbush

IDEAYA Biosciences (NASDAQ:IDYA) had its target price cut by Wedbush from $54.00 to $52.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for IDEAYA Biosciences’ FY2025 earnings at ($3.49) EPS, FY2026 earnings at ($4.02) EPS, FY2027 earnings at ($3.63) EPS and FY2028 earnings at ($2.10) EPS.

Several other research analysts have also recently issued reports on the company. Citigroup cut their target price on IDEAYA Biosciences from $60.00 to $58.00 and set a buy rating on the stock in a research report on Tuesday, August 27th. BTIG Research lifted their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Oppenheimer cut their target price on IDEAYA Biosciences from $60.00 to $53.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an overweight rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $56.00.

IDEAYA Biosciences Stock Up 1.0 %

NASDAQ IDYA opened at $30.80 on Tuesday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -15.38 and a beta of 0.84. IDEAYA Biosciences has a 52 week low of $23.41 and a 52 week high of $47.74. The business has a 50 day moving average price of $38.12 and a 200-day moving average price of $39.36.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.52%. During the same period in the previous year, the firm posted ($0.50) EPS. On average, equities research analysts anticipate that IDEAYA Biosciences will post -2.51 earnings per share for the current year.

Institutional Trading of IDEAYA Biosciences

Hedge funds have recently made changes to their positions in the company. Covestor Ltd raised its stake in shares of IDEAYA Biosciences by 9,225.0% in the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after buying an additional 1,107 shares during the period. Quest Partners LLC bought a new stake in shares of IDEAYA Biosciences in the second quarter valued at $41,000. Comerica Bank raised its stake in shares of IDEAYA Biosciences by 723.5% in the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after buying an additional 1,324 shares during the period. JTC Employer Solutions Trustee Ltd bought a new stake in shares of IDEAYA Biosciences in the first quarter valued at $67,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of IDEAYA Biosciences by 637.9% in the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock valued at $68,000 after buying an additional 1,684 shares during the period. 98.29% of the stock is currently owned by institutional investors.

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.