IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $66.00

IDEAYA Biosciences (NASDAQ:IDYA) had its target price increased by Citigroup from $65.00 to $66.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

IDYA has been the topic of several other reports. Truist Financial reissued a “buy” rating and issued a $57.00 target price (down from $59.00) on shares of IDEAYA Biosciences in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Thursday, October 15th. William Blair assumed coverage on IDEAYA Biosciences in a report on Friday, October 16th. They issued an “outperform” rating on the stock. Wall Street Zen cut IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 22nd. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock opened at $31.24 on Thursday. IDEAYA Biosciences has a fifty-two week low of $26.81 and a fifty-two week high of $42.68. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -6.96 and a beta of 0.08. The stock’s 50-day simple moving average is $36.28 and its 200-day simple moving average is $33.98.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, November 3rd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.04). IDEAYA Biosciences had a negative return on equity of 39.78% and a negative net margin of 1,157.18%. The company had revenue of $10.24 million during the quarter, compared to analyst estimates of $7.58 million. During the same quarter last year, the business earned $1.33 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, equities analysts forecast that IDEAYA Biosciences will post -4.62 earnings per share for the current year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro Hata sold 26,338 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $37.41, for a total value of $985,304.58. Following the completion of the transaction, the chief executive officer owned 690,695 shares of the company’s stock, valued at $25,838,899.95. The trade was a 3.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.70% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of IDYA. BlackRock Inc. purchased a new stake in IDEAYA Biosciences in the 2nd quarter worth approximately $331,452,000. Jupiter Topco LLC acquired a new stake in shares of IDEAYA Biosciences during the 2nd quarter worth approximately $319,728,000. Janus Henderson Group PLC grew its stake in shares of IDEAYA Biosciences by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company’s stock worth $242,023,000 after purchasing an additional 78,797 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of IDEAYA Biosciences by 42.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,333,478 shares of the company’s stock valued at $44,418,000 after purchasing an additional 394,621 shares in the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of IDEAYA Biosciences by 1.7% during the 3rd quarter. Candriam S.C.A. now owns 1,110,424 shares of the company’s stock valued at $42,818,000 after purchasing an additional 18,123 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc (NASDAQ:IDYA) is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company’s pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.