Wedbush Trims IDEAYA Biosciences (NASDAQ:IDYA) Target Price to $52.00

IDEAYA Biosciences (NASDAQ:IDYA) had its target price trimmed by Wedbush from $54.00 to $52.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has 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.

Other equities research analysts have also issued research reports about the company. Oppenheimer lowered their price objective on IDEAYA Biosciences from $60.00 to $53.00 and set an outperform rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on IDEAYA Biosciences from $69.00 to $66.00 and set an overweight rating on the stock in a report on Thursday, August 8th. Lifesci Capital raised IDEAYA Biosciences to a strong-buy rating in a report on Monday, July 29th. Mizuho began coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They set an outperform rating and a $50.00 price target on the stock. Finally, BTIG Research increased their price target on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a buy rating in a report on Tuesday, July 9th. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Buy and an average target price of $56.00.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $30.50 on Tuesday. The business has a 50 day simple moving average of $38.33 and a 200-day simple moving average of $39.42. IDEAYA Biosciences has a 12 month low of $23.41 and a 12 month high of $47.74. The stock has a market capitalization of $2.58 billion, a PE ratio of -15.02 and a beta of 0.84.

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

Institutional Trading of IDEAYA Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of IDEAYA Biosciences by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after purchasing an additional 679,985 shares in the last quarter. Capital Research Global Investors increased its position in IDEAYA Biosciences by 43.6% during the fourth quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock worth $70,337,000 after buying an additional 600,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of IDEAYA Biosciences by 17.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,566,278 shares of the company’s stock worth $126,889,000 after acquiring an additional 535,909 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of IDEAYA Biosciences by 1,611.9% in the fourth quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock valued at $19,202,000 after acquiring an additional 508,151 shares in the last quarter. Finally, Sofinnova Investments Inc. boosted its stake in shares of IDEAYA Biosciences by 47.3% during the second quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company’s stock valued at $40,430,000 after acquiring an additional 369,932 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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.