IDEAYA Biosciences (NASDAQ:IDYA) Price Target Raised to $63.00

IDEAYA Biosciences (NASDAQ:IDYA) had its target price upped by stock analysts at Wedbush from $60.00 to $63.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush‘s target price points to a potential upside of 96.57% from the company’s current price.

IDYA has been the topic of a number of other research reports. Citigroup reiterated a “market outperform” rating on shares of IDEAYA Biosciences in a report on Monday, October 19th. Truist Financial set a $57.00 target price on IDEAYA Biosciences in a research note on Tuesday. Mizuho set a $44.00 target price on IDEAYA Biosciences in a research report on Thursday, October 29th. Royal Bank Of Canada cut their price target on IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Finally, William Blair assumed coverage on IDEAYA Biosciences in a research note on Friday, October 16th. They set an “outperform” rating for the company. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, IDEAYA Biosciences currently has an average rating of “Moderate Buy” and an average target price of $50.64.

IDEAYA Biosciences Trading Up 2.3%

NASDAQ IDYA opened at $32.05 on Wednesday. The stock has a market cap of $2.82 billion, a P/E ratio of -16.46 and a beta of 0.08. The company’s fifty day simple moving average is $36.91 and its 200-day simple moving average is $34.05. IDEAYA Biosciences has a 52 week low of $26.81 and a 52 week high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.04). The firm had revenue of $10.24 million for the quarter, compared to analyst estimates of $7.58 million. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. IDEAYA Biosciences’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 earnings per share. On average, research analysts expect that IDEAYA Biosciences will post -4.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 sale, the chief executive officer directly owned 690,695 shares of the company’s stock, valued at $25,838,899.95. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IDYA. Quantbot Technologies LP acquired a new stake in shares of IDEAYA Biosciences during the 2nd quarter valued at approximately $43,000. Sterling Capital Management LLC lifted its stake in IDEAYA Biosciences by 20.5% during the third quarter. Sterling Capital Management LLC now owns 1,873 shares of the company’s stock worth $72,000 after purchasing an additional 319 shares during the last quarter. Nykredit A S bought a new position in IDEAYA Biosciences during the second quarter worth $76,000. Fifth Third Bancorp acquired a new position in IDEAYA Biosciences in the first quarter worth $84,000. Finally, GAMMA Investing LLC boosted its holdings in IDEAYA Biosciences by 79.0% in the third quarter. GAMMA Investing LLC now owns 2,315 shares of the company’s stock worth $89,000 after purchasing an additional 1,022 shares during the period. Institutional investors and hedge funds own 98.29% of the company’s stock.

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.