Roth Capital Raises IDEAYA Biosciences (NASDAQ:IDYA) Price Target to $46.00

IDEAYA Biosciences (NASDAQ:IDYAGet Rating) had its price target boosted by equities researchers at Roth Capital from $42.00 to $46.00 in a report issued on Tuesday, The Fly reports. Roth Capital’s target price points to a potential upside of 314.41% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised IDEAYA Biosciences from a “sell” rating to a “hold” rating in a research report on Friday, March 18th. Wedbush restated an “outperform” rating and set a $34.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday, March 16th. Finally, Stifel Nicolaus upgraded shares of IDEAYA Biosciences from a “hold” rating to a “buy” rating and cut their target price for the company from $27.00 to $20.00 in a research note on Thursday, March 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, IDEAYA Biosciences presently has a consensus rating of “Buy” and a consensus price target of $30.20.

IDEAYA Biosciences stock traded up $0.67 during trading hours on Tuesday, reaching $11.10. 3,552 shares of the company were exchanged, compared to its average volume of 335,701. The firm has a market cap of $428.90 million, a price-to-earnings ratio of -7.50 and a beta of 1.77. The stock has a 50-day moving average of $10.98 and a 200 day moving average of $16.35. IDEAYA Biosciences has a 12 month low of $8.14 and a 12 month high of $28.00.

IDEAYA Biosciences (NASDAQ:IDYAGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.05. IDEAYA Biosciences had a negative net margin of 170.82% and a negative return on equity of 19.08%. Equities research analysts forecast that IDEAYA Biosciences will post -1.49 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in shares of IDEAYA Biosciences in the 4th quarter valued at about $79,000. Royal Bank of Canada lifted its position in shares of IDEAYA Biosciences by 82.7% in the third quarter. Royal Bank of Canada now owns 3,524 shares of the company’s stock valued at $90,000 after buying an additional 1,595 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of IDEAYA Biosciences by 12.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,416 shares of the company’s stock valued at $117,000 after buying an additional 1,171 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of IDEAYA Biosciences during the 1st quarter worth about $133,000. Finally, BNP Paribas Arbitrage SA grew its holdings in IDEAYA Biosciences by 404.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,054 shares of the company’s stock valued at $180,000 after buying an additional 5,655 shares in the last quarter. 89.79% of the stock is owned by institutional investors.

IDEAYA Biosciences Company Profile (Get Rating)

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, focuses on the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company's lead product candidates include IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase I clinical trial for patients with solid tumors having methylthioadenosine phosphorylase deletions; and IDE196, a protein kinase C inhibitor that is in Phase I/II clinical trial for genetically defined cancers having GNAQ or GNA11 gene mutations.

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