IDEAYA Biosciences (NASDAQ:IDYA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of IDEAYA Biosciences (NASDAQ:IDYA) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

IDYA has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Thursday, January 22nd. Royal Bank Of Canada raised their price objective on IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 14th. The Goldman Sachs Group lifted their price objective on IDEAYA Biosciences from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Wedbush upped their target price on IDEAYA Biosciences from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Finally, Guggenheim increased their target price on shares of IDEAYA Biosciences from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Fifteen research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.44.

IDEAYA Biosciences Stock Performance

IDYA stock opened at $33.60 on Friday. The company has a market capitalization of $2.95 billion, a P/E ratio of -25.65 and a beta of 0.02. The company has a fifty day moving average price of $32.43 and a 200-day moving average price of $32.78. IDEAYA Biosciences has a 52-week low of $16.81 and a 52-week high of $39.28.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.09. The business had revenue of $10.88 million during the quarter, compared to the consensus estimate of $5.95 million. The business’s revenue for the quarter was up 55.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.49) EPS. As a group, sell-side analysts forecast that IDEAYA Biosciences will post -3.97 earnings per share for the current fiscal year.

Insider Activity at IDEAYA Biosciences

In related news, Director Jeffrey Stein acquired 50,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was bought at an average price of $32.96 per share, for a total transaction of $1,648,000.00. Following the purchase, the director directly owned 54,281 shares of the company’s stock, valued at $1,789,101.76. The trade was a 1,167.95% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its holdings in IDEAYA Biosciences by 11.8% in the fourth quarter. Janus Henderson Group PLC now owns 7,186,456 shares of the company’s stock worth $248,344,000 after purchasing an additional 758,117 shares during the period. Vanguard Group Inc. raised its holdings in shares of IDEAYA Biosciences by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock valued at $173,518,000 after purchasing an additional 97,116 shares during the period. State Street Corp boosted its position in shares of IDEAYA Biosciences by 27.6% during the 4th quarter. State Street Corp now owns 4,134,641 shares of the company’s stock worth $142,935,000 after purchasing an additional 893,707 shares in the last quarter. Baker BROS. Advisors LP boosted its position in shares of IDEAYA Biosciences by 10.5% during the 4th quarter. Baker BROS. Advisors LP now owns 3,618,826 shares of the company’s stock worth $125,103,000 after purchasing an additional 343,382 shares in the last quarter. Finally, Fiera Capital Corp grew its stake in shares of IDEAYA Biosciences by 32.6% in the 4th quarter. Fiera Capital Corp now owns 2,437,262 shares of the company’s stock valued at $84,256,000 after buying an additional 599,295 shares during the period. 98.29% of the stock is owned by institutional investors.

About IDEAYA Biosciences

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.