Brokerages Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Price Target at $46.60

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has earned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $46.60.

Several equities analysts have weighed in on IDYA shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of IDEAYA Biosciences in a report on Friday, February 23rd. JPMorgan Chase & Co. boosted their target price on shares of IDEAYA Biosciences from $51.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. The Goldman Sachs Group increased their price target on shares of IDEAYA Biosciences from $36.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, January 25th. BTIG Research initiated coverage on IDEAYA Biosciences in a research note on Friday, March 8th. They set a “buy” rating and a $55.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on IDEAYA Biosciences from $43.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st.

IDEAYA Biosciences Trading Down 0.8 %

IDYA opened at $42.75 on Friday. IDEAYA Biosciences has a 12-month low of $18.96 and a 12-month high of $47.74. The company has a market cap of $3.20 billion, a price-to-earnings ratio of -21.70 and a beta of 0.83. The company’s 50 day moving average is $42.63 and its 200 day moving average is $38.38.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.05). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 23.00%. The company had revenue of $3.90 million for the quarter, compared to the consensus estimate of $8.84 million. IDEAYA Biosciences’s revenue was down 3.0% compared to the same quarter last year. As a group, analysts predict that IDEAYA Biosciences will post -2.26 EPS for the current fiscal year.

Insider Activity

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 23,557 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the transaction, the chief executive officer now directly owns 677,887 shares in the company, valued at approximately $30,870,973.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Briseno Andres Ruiz sold 2,000 shares of IDEAYA Biosciences stock in a transaction on Friday, February 9th. The stock was sold at an average price of $46.02, for a total value of $92,040.00. Following the transaction, the insider now directly owns 24,531 shares in the company, valued at approximately $1,128,916.62. 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 23,557 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $45.54, for a total value of $1,072,785.78. Following the sale, the chief executive officer now owns 677,887 shares of the company’s stock, valued at $30,870,973.98. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

Hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its position in IDEAYA Biosciences by 96.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,474 shares of the company’s stock valued at $40,000 after acquiring an additional 723 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of IDEAYA Biosciences during the first quarter worth about $67,000. SG Americas Securities LLC acquired a new position in shares of IDEAYA Biosciences during the first quarter valued at about $101,000. AJOVista LLC acquired a new stake in IDEAYA Biosciences in the 4th quarter worth approximately $99,000. Finally, Exchange Traded Concepts LLC increased its stake in IDEAYA Biosciences by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,806 shares of the company’s stock valued at $171,000 after purchasing an additional 1,219 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

About IDEAYA Biosciences

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.