IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $35.00

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective upped by The Goldman Sachs Group from $31.00 to $35.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. UBS Group assumed coverage on shares of IDEAYA Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price objective on the stock. Royal Bank Of Canada upped their price target on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday. Wells Fargo & Company increased their target price on IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday. Truist Financial set a $65.00 price target on shares of IDEAYA Biosciences in a report on Monday. Finally, Wedbush increased their price target on shares of IDEAYA Biosciences from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IDEAYA Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $50.44.

IDEAYA Biosciences Price Performance

IDYA stock opened at $32.51 on Tuesday. The firm has a market cap of $2.85 billion, a PE ratio of -24.82 and a beta of 0.02. IDEAYA Biosciences has a 12 month low of $16.07 and a 12 month high of $39.28. The firm has a 50 day simple moving average of $32.37 and a 200 day simple moving average of $32.62.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.09. The firm had revenue of $10.88 million during the quarter, compared to analysts’ expectations of $5.95 million. The firm’s revenue was up 55.7% compared to the same quarter last year. During the same quarter last year, the company posted ($1.49) EPS. As a group, sell-side analysts expect that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Insider Transactions at IDEAYA Biosciences

In other news, Director Jeffrey Stein acquired 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of $32.96 per share, for a total transaction of $1,648,000.00. Following the completion of the acquisition, the director owned 54,281 shares in the company, valued at $1,789,101.76. This trade represents a 1,167.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its position in shares of IDEAYA Biosciences by 11.8% in the first quarter. SG Americas Securities LLC now owns 32,964 shares of the company’s stock worth $1,098,000 after purchasing an additional 3,468 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in IDEAYA Biosciences by 1,071.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,795 shares of the company’s stock worth $131,000 after acquiring an additional 3,471 shares in the last quarter. Flax Pond Capital LLC bought a new stake in IDEAYA Biosciences during the fourth quarter worth $1,353,000. Invesco Ltd. raised its position in shares of IDEAYA Biosciences by 91.9% in the fourth quarter. Invesco Ltd. now owns 238,314 shares of the company’s stock valued at $8,239,000 after purchasing an additional 114,118 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of IDEAYA Biosciences in the fourth quarter valued at about $2,288,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.