IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Consensus Rating of “Buy” from Analysts

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYAGet Free Report) have received an average rating of “Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have covered the stock in the last year is $46.80.

A number of brokerages have recently commented on IDYA. The Goldman Sachs Group cut their target price on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. Leerink Partnrs reaffirmed an “outperform” rating on shares of IDEAYA Biosciences in a research report on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on IDEAYA Biosciences from $51.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Capital One Financial restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Thursday, February 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday, May 8th.

Read Our Latest Research Report on IDYA

IDEAYA Biosciences Stock Performance

IDYA opened at $35.91 on Thursday. IDEAYA Biosciences has a 1 year low of $20.90 and a 1 year high of $47.74. The company’s 50 day simple moving average is $41.04 and its 200 day simple moving average is $39.65. The stock has a market capitalization of $2.72 billion, a PE ratio of -17.87 and a beta of 0.83.

IDEAYA Biosciences (NASDAQ:IDYAGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate 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%. The firm’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period last year, the business earned ($0.49) EPS. As a group, sell-side analysts expect that IDEAYA Biosciences will post -2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 56,711 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the sale, the chief executive officer now owns 677,887 shares of the company’s stock, valued at approximately $28,206,878.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 56,711 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the sale, the chief executive officer now owns 677,887 shares in the company, valued at $28,206,878.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Yujiro S. Hata sold 34,433 shares of the business’s stock in a transaction on 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 owns 677,887 shares of the company’s stock, valued at approximately $28,342,455.47. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

Several large investors have recently made changes to their positions in the company. Covestor Ltd increased its position in IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after acquiring an additional 1,107 shares during the period. Comerica Bank increased its holdings in shares of IDEAYA Biosciences by 723.5% during the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after purchasing an additional 1,324 shares during the period. JTC Employer Solutions Trustee Ltd bought a new stake in shares of IDEAYA Biosciences during the first quarter valued at about $67,000. AJOVista LLC acquired a new stake in IDEAYA Biosciences in the fourth quarter worth about $99,000. Finally, SG Americas Securities LLC bought a new position in IDEAYA Biosciences in the 1st quarter valued at about $101,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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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.

Further Reading

Analyst Recommendations for IDEAYA Biosciences (NASDAQ:IDYA)

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