IDEAYA Biosciences (NASDAQ:IDYA) Earns Outperform Rating from Analysts at Mizuho

Equities research analysts at Mizuho began coverage on shares of IDEAYA Biosciences (NASDAQ:IDYAGet Free Report) in a research note issued to investors on Monday, Benzinga reports. The brokerage set an “outperform” rating and a $50.00 price target on the stock. Mizuho’s price objective would suggest a potential upside of 45.94% from the stock’s current price.

IDYA has been the subject of several other research reports. Wedbush restated an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a research note on Wednesday, May 8th. The Goldman Sachs Group lowered their price objective on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Citigroup lifted their target price on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus boosted their target price on shares of IDEAYA Biosciences from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat, IDEAYA Biosciences has an average rating of “Buy” and a consensus target price of $48.42.

Check Out Our Latest Stock Report on IDEAYA Biosciences

IDEAYA Biosciences Price Performance

NASDAQ IDYA opened at $34.26 on Monday. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -17.04 and a beta of 0.86. The stock’s fifty day moving average price is $38.51 and its 200 day moving average price is $40.67. IDEAYA Biosciences has a 1 year low of $20.90 and a 1 year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYAGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates 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%. During the same period last year, the company posted ($0.49) EPS. IDEAYA Biosciences’s revenue was down 100.0% compared to the same quarter last year. Research analysts expect that IDEAYA Biosciences will post -2.37 earnings per share for the current year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 34,433 shares of IDEAYA Biosciences stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total transaction of $1,439,643.73. Following the transaction, the chief executive officer now owns 677,887 shares in the company, valued at approximately $28,342,455.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares in the company, valued at $28,206,878.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Yujiro S. Hata sold 34,433 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total value of $1,439,643.73. Following the transaction, the chief executive officer now owns 677,887 shares of the company’s stock, valued at $28,342,455.47. The disclosure for this sale can be found here. Insiders sold a total of 119,644 shares of company stock worth $4,832,228 in the last three months. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

Several large investors have recently made changes to their positions in IDYA. Vanguard Group Inc. raised its position in IDEAYA Biosciences by 19.6% in the first quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after purchasing an additional 679,985 shares during the period. Price T Rowe Associates Inc. MD raised its holdings 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 buying an additional 486,222 shares during the period. Federated Hermes Inc. raised its holdings 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 buying an additional 500,046 shares during the period. Janus Henderson Group PLC lifted its stake in IDEAYA Biosciences by 7.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock worth $167,104,000 after acquiring an additional 256,559 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in IDEAYA Biosciences by 43.6% during the 4th quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock valued at $70,337,000 after acquiring an additional 600,000 shares during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.

About IDEAYA Biosciences

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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.

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