IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $61.00

IDEAYA Biosciences (NASDAQ:IDYA) had its price target boosted by Royal Bank of Canada from $53.00 to $61.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. BTIG Research upped their price target on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. Stifel Nicolaus reaffirmed a buy rating and issued a $63.00 price target on shares of IDEAYA Biosciences in a research report on Monday, July 8th. The Goldman Sachs Group lowered their price target on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a buy rating for the company in a research report on Monday, May 13th. Oppenheimer boosted their price objective on shares of IDEAYA Biosciences from $53.00 to $60.00 and gave the stock an outperform rating in a research note on Monday, July 8th. Finally, Mizuho started coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They set an outperform rating and a $50.00 price objective for the company. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $53.08.

IDEAYA Biosciences Price Performance

IDEAYA Biosciences stock opened at $40.00 on Thursday. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -19.90 and a beta of 0.86. IDEAYA Biosciences has a 1 year low of $20.90 and a 1 year high of $47.74. The firm has a 50-day moving average of $38.29 and a two-hundred day moving average of $40.78.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the firm earned ($0.49) earnings per share. The company’s revenue was down 100.0% compared to the same quarter last year. Research analysts expect that IDEAYA Biosciences will post -2.37 earnings per share for the current year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 56,711 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the sale, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $28,206,878.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Michael Anthony White sold 28,500 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total value of $1,032,840.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Yujiro S. Hata sold 56,711 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at $28,206,878.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,644 shares of company stock worth $4,832,228. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of IDEAYA Biosciences

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in IDEAYA Biosciences by 19.6% during the first quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after buying an additional 679,985 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in IDEAYA Biosciences by 13.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock worth $177,825,000 after buying an additional 486,222 shares in the last quarter. Federated Hermes Inc. boosted its holdings in IDEAYA Biosciences by 14.8% during the fourth quarter. Federated Hermes Inc. now owns 3,883,775 shares of the company’s stock worth $138,185,000 after buying an additional 500,046 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in IDEAYA Biosciences by 7.2% during the first quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock worth $167,104,000 after buying an additional 256,559 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings 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. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.