IDEAYA Biosciences (NASDAQ:IDYA) Hits New 12-Month High – Should You Buy?

by · The Markets Daily

IDEAYA Biosciences, Inc. (NASDAQ:IDYA – Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $39.32 and last traded at $38.94, with a volume of 334469 shares trading hands. The stock had previously closed at $37.65.

Analyst Ratings Changes

A number of brokerages recently issued reports on IDYA. Wall Street Zen raised IDEAYA Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Guggenheim lifted their target price on IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Wedbush reissued an “outperform” rating and issued a $58.00 price target on shares of IDEAYA Biosciences in a research note on Friday, June 12th. The Goldman Sachs Group raised their price target on IDEAYA Biosciences from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Finally, Royal Bank Of Canada lifted their price objective on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Fifteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.69.

View Our Latest Research Report on IDEAYA Biosciences

IDEAYA Biosciences Price Performance

The stock has a market cap of $3.39 billion, a P/E ratio of -24.10 and a beta of -0.09. The company has a fifty day moving average of $30.62 and a 200 day moving average of $32.45.

IDEAYA Biosciences (NASDAQ:IDYA – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The business had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $5.04 million. During the same period in the prior year, the firm posted ($0.82) earnings per share. The business’s quarterly revenue was down 39.4% compared to the same quarter last year. As a group, analysts anticipate that IDEAYA Biosciences, Inc. will post -4.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IDYA. Versant Capital Management Inc lifted its holdings in IDEAYA Biosciences by 26.7% in the 2nd quarter. Versant Capital Management Inc now owns 2,825 shares of the company’s stock valued at $105,000 after acquiring an additional 596 shares during the last quarter. Seven Fleet Capital Management LP bought a new stake in shares of IDEAYA Biosciences in the 1st quarter worth approximately $2,875,000. Bank of America Corp DE lifted its stake in IDEAYA Biosciences by 4.3% during the first quarter. Bank of America Corp DE now owns 942,091 shares of the company’s stock valued at $31,390,000 after purchasing an additional 39,118 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in IDEAYA Biosciences by 1.1% during the first quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company’s stock worth $242,023,000 after buying an additional 78,797 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in IDEAYA Biosciences by 27.3% during the first quarter. California State Teachers Retirement System now owns 96,655 shares of the company’s stock worth $3,221,000 after buying an additional 20,710 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

(Get Free Report)

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.

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