IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $69.00 at JPMorgan Chase & Co.

IDEAYA Biosciences (NASDAQ:IDYA) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $65.00 to $69.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 71.39% from the company’s current price.

A number of other analysts have also recently issued reports on IDYA. Oppenheimer boosted their price objective on IDEAYA Biosciences from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday. BTIG Research increased their price objective on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of IDEAYA Biosciences from $53.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday. Stifel Nicolaus restated a “buy” rating and set a $63.00 price target on shares of IDEAYA Biosciences in a research note on Monday. Finally, Citigroup lifted their price objective on IDEAYA Biosciences from $40.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Fourteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $53.08.

IDEAYA Biosciences Price Performance

Shares of IDEAYA Biosciences stock traded up $0.64 during midday trading on Friday, hitting $40.26. The company had a trading volume of 223,358 shares, compared to its average volume of 918,609. IDEAYA Biosciences has a 1-year low of $20.90 and a 1-year high of $47.74. The business’s 50 day simple moving average is $38.33 and its two-hundred day simple moving average is $40.70. The stock has a market cap of $3.05 billion, a PE ratio of -20.03 and a beta of 0.86.

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

Insiders Place Their Bets

In other 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 sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $36.24, for a total transaction of $1,032,840.00. The sale 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 firm’s 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 approximately $28,342,455.47. The disclosure for this sale can be found here. Insiders have sold a total of 119,644 shares of company stock valued at $4,832,228 in the last 90 days. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in IDEAYA Biosciences by 19.6% during the 1st 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 during the period. Price T Rowe Associates Inc. MD raised its stake in shares of IDEAYA Biosciences by 13.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock valued at $177,825,000 after purchasing an additional 486,222 shares during the period. Federated Hermes Inc. raised 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. Janus Henderson Group PLC lifted its holdings in shares of IDEAYA Biosciences by 7.2% in the first quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock valued at $167,104,000 after purchasing an additional 256,559 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of 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 during the period. 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.