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

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has earned an average rating of “Buy” from the thirteen analysts that are currently covering the company, Marketbeat reports. Thirteen equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued a report on the stock in the last year is $48.27.

Several brokerages have weighed in on IDYA. BTIG Research started coverage on shares of IDEAYA Biosciences in a report on Friday, March 8th. They set a “buy” rating and a $55.00 price target on the stock. 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 research note on Thursday, March 21st. Wedbush reiterated an “outperform” rating and issued a $52.00 price target 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. Finally, Stifel Nicolaus increased their target price on IDEAYA Biosciences from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th.

Insider Buying and Selling

In other news, insider Michael Anthony White sold 28,500 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total value of $1,032,840.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction 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 approximately $28,206,878.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Anthony White sold 28,500 shares of IDEAYA Biosciences stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total transaction of $1,032,840.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,644 shares of company stock worth $4,832,228. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd boosted its holdings in IDEAYA Biosciences by 9,225.0% during 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 boosted its stake 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 purchased a new stake in shares of IDEAYA Biosciences during the first quarter valued at $67,000. AJOVista LLC bought a new position in shares of IDEAYA Biosciences in the fourth quarter worth about $99,000. Finally, SG Americas Securities LLC purchased a new position in IDEAYA Biosciences in the 1st quarter worth about $101,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Stock Performance

NASDAQ IDYA opened at $36.99 on Monday. The business’s fifty day moving average is $39.40 and its 200 day moving average is $40.55. IDEAYA Biosciences has a fifty-two week low of $20.90 and a fifty-two week high of $47.74. The company has a market capitalization of $2.80 billion, a PE ratio of -18.40 and a beta of 0.79.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data 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 revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.49) earnings per share. On average, sell-side analysts forecast that IDEAYA Biosciences will post -2.37 EPS for the current year.

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.