Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Target Price at $48.27

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has been assigned an average rating of “Buy” from the thirteen research firms that are currently covering the stock, Marketbeat reports. Thirteen equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $48.27.

A number of research analysts recently weighed in on IDYA shares. BTIG Research started coverage on shares of IDEAYA Biosciences in a research report on Friday, March 8th. They set a “buy” rating and a $55.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, May 8th. The Goldman Sachs Group dropped their price target on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Stifel Nicolaus lifted their price objective on shares of IDEAYA Biosciences from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Finally, Citigroup lifted their price objective on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st.

IDEAYA Biosciences Trading Up 2.2 %

IDEAYA Biosciences stock opened at $35.11 on Monday. The firm’s fifty day moving average price is $39.00 and its two-hundred day moving average price is $40.57. IDEAYA Biosciences has a 1-year low of $20.90 and a 1-year high of $47.74. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -17.47 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. During the same quarter in the prior year, the business earned ($0.49) EPS. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. On average, research analysts forecast that IDEAYA Biosciences will post -2.37 EPS for the current year.

Insider Transactions at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 34,433 shares of IDEAYA Biosciences stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.81, for a total value of $1,439,643.73. Following the completion of the transaction, the chief executive officer now owns 677,887 shares in the company, valued at $28,342,455.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Michael Anthony White sold 28,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total transaction of $1,032,840.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Yujiro S. Hata sold 34,433 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total transaction of $1,439,643.73. Following the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at approximately $28,342,455.47. The disclosure for this sale can be found here. Insiders sold 119,644 shares of company stock worth $4,832,228 over the last quarter. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd increased its holdings in IDEAYA Biosciences by 9,225.0% during the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after acquiring an additional 1,107 shares during the period. Comerica Bank increased its holdings in IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after acquiring an additional 1,324 shares during the period. JTC Employer Solutions Trustee Ltd bought a new stake in IDEAYA Biosciences during the 1st quarter worth approximately $67,000. AJOVista LLC bought a new stake in IDEAYA Biosciences during the 4th quarter worth approximately $99,000. Finally, SG Americas Securities LLC bought a new position in shares of IDEAYA Biosciences in the 1st quarter worth $101,000. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.