IDEAYA Biosciences (NASDAQ:IDYA) Rating Reiterated by Wedbush

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research note issued to investors on Monday, RTT News reports. They presently have a $56.00 price objective on the stock, up from their prior price objective of $52.00. Wedbush’s price objective would indicate a potential upside of 45.00% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. The Goldman Sachs Group decreased their price target on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. Citigroup upped their price target on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Stifel Nicolaus raised their price objective on shares of IDEAYA Biosciences from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Mizuho started coverage on shares of IDEAYA Biosciences in a research report on Monday. They set an “outperform” rating and a $50.00 target price on the stock. Fourteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $51.42.

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $38.62 on Monday. The stock has a market capitalization of $2.92 billion, a P/E ratio of -19.21 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 company’s fifty day moving average is $38.44 and its two-hundred day moving average is $40.74.

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

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 34,433 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was 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 directly owns 677,887 shares of the company’s stock, valued at $28,342,455.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 34,433 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were 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 of the company’s stock, valued at approximately $28,342,455.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yujiro S. Hata sold 56,711 shares of the business’s 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 transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $28,206,878.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,644 shares of company stock worth $4,832,228. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. increased its stake in IDEAYA Biosciences by 14.8% in the fourth 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 last quarter. Victory Capital Management Inc. purchased a new position in shares of IDEAYA Biosciences during the 4th quarter worth about $12,328,000. Charles Schwab Investment Management Inc. boosted its position in shares of IDEAYA Biosciences by 13.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 496,456 shares of the company’s stock worth $17,664,000 after acquiring an additional 59,100 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in IDEAYA Biosciences by 93.2% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 61,226 shares of the company’s stock valued at $2,178,000 after purchasing an additional 29,536 shares during the period. Finally, First Light Asset Management LLC purchased a new stake in shares of IDEAYA Biosciences during the 4th quarter valued at $12,299,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

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.