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Robert W. Baird Sticks to Its Buy Rating for IDEAYA Biosciences (IDYA)

Robert W. Baird analyst Joel Beatty reiterated a Buy rating on IDEAYA Biosciences (IDYAResearch Report) on September 12 and set a price target of $18.00. The company’s shares closed yesterday at $12.52.

According to TipRanks, Beatty is a 4-star analyst with an average return of 5.7% and a 52.06% success rate. Beatty covers the Healthcare sector, focusing on stocks such as Blueprint Medicines, Leap Therapeutics, and IDEAYA Biosciences.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IDEAYA Biosciences with a $20.60 average price target, which is a 64.54% upside from current levels. In a report released on September 12, Guggenheim also maintained a Buy rating on the stock with a $32.00 price target.

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Based on IDEAYA Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.85 million and a GAAP net loss of $22.06 million. In comparison, last year the company earned a revenue of $8.76 million and had a GAAP net loss of $10.95 million

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IDEAYA Biosciences, Inc. develops cancer therapeutics. It is an oncology-focused precision medicine company committed to the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company operates and manages its business as one operating and reportable segment, which is the business of research and development for oncology-focused precision medicine. The company was founded by Yujiro S. Hata and Jeffrey Hager in June 2015 and is headquartered in South San Francisco, CA.

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