Fintel reports that on May 24, 2023, Goldman Sachs initiated coverage of Ideaya Biosciences (NASDAQ:IDYA) with a Buy recommendation.

Analyst Price Forecast Suggests 55.77% Upside

As of May 11, 2023, the average one-year price target for Ideaya Biosciences is 34.11. The forecasts range from a low of 24.24 to a high of $45.15. The average price target represents an increase of 55.77% from its latest reported closing price of 21.90.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Ideaya Biosciences is 17MM, a decrease of 63.66%. The projected annual non-GAAP EPS is -2.65.

What is the Fund Sentiment?

There are 296 funds or institutions reporting positions in Ideaya Biosciences. This is an increase of 21 owner(s) or 7.64% in the last quarter. Average portfolio weight of all funds dedicated to IDYA is 0.34%, a decrease of 28.05%. Total shares owned by institutions decreased in the last three months by 0.61% to 47,229K shares. The put/call ratio of IDYA is 0.97, indicating a bullish outlook.

What are Other Shareholders Doing?

Avidity Partners Management holds 3,673K shares representing 6.41% ownership of the company. In it’s prior filing, the firm reported owning 3,825K shares, representing a decrease of 4.12%. The firm increased its portfolio allocation in IDYA by 11.20% over the last quarter.

Logos Global Management holds 3,600K shares representing 6.28% ownership of the company. In it’s prior filing, the firm reported owning 3,900K shares, representing a decrease of 8.33%. The firm decreased its portfolio allocation in IDYA by 14.79% over the last quarter.

Federated Hermes holds 2,865K shares representing 5.00% ownership of the company. In it’s prior filing, the firm reported owning 2,864K shares, representing an increase of 0.00%. The firm decreased its portfolio allocation in IDYA by 62.24% over the last quarter.

Adage Capital Partners Gp, L.l.c. holds 2,677K shares representing 4.67% ownership of the company. In it’s prior filing, the firm reported owning 2,202K shares, representing an increase of 17.75%. The firm decreased its portfolio allocation in IDYA by 13.86% over the last quarter.

Canaan Partners X holds 2,661K shares representing 4.64% ownership of the company. No change in the last quarter.

Ideaya Biosciences Background Information
(This description is provided by the company.)

IDEAYA Biosciences Inc. is a synthetic lethality-focused precision medicine oncology company committed to the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. IDEAYA’s approach integrates capabilities in identifying and validating translational biomarkers with drug discovery to select patient populations most likely to benefit from its targeted therapies. IDEAYA is applying its early research and drug discovery capabilities to synthetic lethality – which represents an emerging class of precision medicine targets.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K

This article originally appeared on Fintel

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