IDEAYA Biosciences (NASDAQ:IDYA) Reaches New 52-Week High – Time to Buy?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) reached a new 52-week high on Monday . The stock traded as high as $35.12 and last traded at $34.8860, with a volume of 47415 shares traded. The stock had previously closed at $33.99.

Wall Street Analyst Weigh In

Several analysts have commented on IDYA shares. Guggenheim started coverage on IDEAYA Biosciences in a report on Thursday, September 18th. They issued a “buy” rating and a $50.00 price target for the company. BTIG Research reissued a “buy” rating and set a $62.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, October 21st. Mizuho upped their price objective on IDEAYA Biosciences from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Oppenheimer set a $36.00 target price on IDEAYA Biosciences and gave the company an “outperform” rating in a report on Monday, September 8th. Finally, The Goldman Sachs Group boosted their price target on IDEAYA Biosciences from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.40.

IDEAYA Biosciences Trading Up 2.4%

The company’s 50 day moving average is $29.01 and its 200-day moving average is $24.70. The stock has a market cap of $3.05 billion, a PE ratio of -18.70 and a beta of 0.14.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $1.45. The business had revenue of $207.83 million for the quarter, compared to analyst estimates of $59.98 million. As a group, analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new position in shares of IDEAYA Biosciences in the 3rd quarter worth approximately $233,000. Dark Forest Capital Management LP bought a new position in IDEAYA Biosciences during the third quarter worth $1,462,000. Mariner LLC acquired a new position in IDEAYA Biosciences in the third quarter worth $260,000. Millennium Management LLC boosted its holdings in IDEAYA Biosciences by 106.3% in the third quarter. Millennium Management LLC now owns 137,585 shares of the company’s stock worth $3,744,000 after purchasing an additional 70,899 shares during the period. Finally, Iron Triangle Partners LP bought a new stake in IDEAYA Biosciences during the third quarter valued at $7,347,000. 98.29% of the stock is owned by 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.