IDEAYA Biosciences (NASDAQ:IDYA) Price Target Lowered to $58.00 at Citigroup

IDEAYA Biosciences (NASDAQ:IDYA) had its price target trimmed by Citigroup from $60.00 to $58.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Stifel Nicolaus restated a buy rating and issued a $63.00 target price on shares of IDEAYA Biosciences in a report on Monday, July 8th. Royal Bank of Canada reaffirmed an outperform rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an overweight rating for the company in a report on Thursday, August 8th. Mizuho initiated coverage on shares of IDEAYA Biosciences in a research report on Monday, July 8th. They issued an outperform rating and a $50.00 price objective for the company. Finally, The Goldman Sachs Group decreased their price objective on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a buy rating for the company in a research note on Monday, May 13th. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Buy and an average target price of $55.70.

IDEAYA Biosciences Trading Down 1.1 %

Shares of IDYA stock opened at $39.35 on Tuesday. The firm has a fifty day simple moving average of $38.58 and a two-hundred day simple moving average of $40.79. IDEAYA Biosciences has a 12 month low of $23.41 and a 12 month high of $47.74. The firm has a market capitalization of $2.98 billion, a PE ratio of -19.60 and a beta of 0.87.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. During the same quarter in the prior year, the company earned ($0.50) EPS. On average, equities analysts predict that IDEAYA Biosciences will post -2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in IDEAYA Biosciences by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock worth $182,355,000 after acquiring an additional 679,985 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of 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 buying an additional 600,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of IDEAYA Biosciences by 17.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,566,278 shares of the company’s stock valued at $126,889,000 after buying an additional 535,909 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in IDEAYA Biosciences by 1,611.9% in the 4th quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock worth $19,202,000 after buying an additional 508,151 shares during the period. Finally, First Turn Management LLC purchased a new position in IDEAYA Biosciences in the 4th quarter valued at approximately $13,605,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.