IDEAYA Biosciences (NASDAQ:IDYA) PT Raised to $60.00

IDEAYA Biosciences (NASDAQ:IDYA) had its price target raised by analysts at Oppenheimer from $53.00 to $60.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 55.36% from the company’s previous close.

A number of other research analysts also recently issued reports on IDYA. 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. Wedbush reaffirmed an “outperform” rating and issued a $56.00 price objective (up previously from $52.00) on shares of IDEAYA Biosciences in a research report on Monday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $63.00 price objective on shares of IDEAYA Biosciences in a research report on Monday. The Goldman Sachs Group cut their price objective 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. Finally, Mizuho began coverage on shares of IDEAYA Biosciences in a research report on Monday. They issued an “outperform” rating and a $50.00 price objective on the stock. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $51.42.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA opened at $38.62 on Monday. IDEAYA Biosciences has a one year low of $20.90 and a one year high of $47.74. The firm has a market cap of $2.92 billion, a P/E ratio of -19.21 and a beta of 0.86. The firm has a 50-day simple moving average of $38.44 and a 200-day simple moving average of $40.74.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) 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 prior year, the business posted ($0.49) earnings per share. The business’s revenue was down 100.0% on a year-over-year basis. On average, research analysts predict that IDEAYA Biosciences will post -2.37 EPS for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other IDEAYA Biosciences news, insider Michael Anthony White sold 28,500 shares of IDEAYA Biosciences 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 56,711 shares of IDEAYA Biosciences stock in a transaction that occurred 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 approximately $28,206,878.07. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael Anthony White sold 28,500 shares of IDEAYA Biosciences 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 119,644 shares of company stock worth $4,832,228. Company insiders own 3.50% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of IDEAYA Biosciences by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after purchasing an additional 679,985 shares during the period. Capital Research Global Investors lifted its stake in shares of IDEAYA Biosciences by 43.6% in the 4th quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock valued at $70,337,000 after purchasing an additional 600,000 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of IDEAYA Biosciences by 17.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,566,278 shares of the company’s stock valued at $126,889,000 after purchasing an additional 535,909 shares during the period. Fisher Asset Management LLC lifted its stake in shares of IDEAYA Biosciences by 1,611.9% in the 4th quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock valued at $19,202,000 after purchasing an additional 508,151 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of IDEAYA Biosciences by 14.8% in the 4th quarter. Federated Hermes Inc. now owns 3,883,775 shares of the company’s stock valued at $138,185,000 after purchasing an additional 500,046 shares during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.