IDEAYA Biosciences (NASDAQ:IDYA) Rating Reiterated by Wedbush

Wedbush reiterated their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report released on Monday morning, RTT News reports. They currently have a $56.00 target price on the stock, up from their previous target price of $52.00. Wedbush also issued estimates for IDEAYA Biosciences’ FY2027 earnings at ($0.58) EPS and FY2028 earnings at $2.94 EPS.

Several other brokerages also recently commented on IDYA. The Goldman Sachs Group cut their price target on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a buy rating on the stock in a report on Monday, May 13th. Stifel Nicolaus upped their target price on shares of IDEAYA Biosciences from $55.00 to $63.00 and gave the stock a buy rating in a research note on Tuesday, June 4th. Citigroup upped their target price on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a buy rating in a research note on Thursday, March 21st. Finally, Mizuho started coverage on shares of IDEAYA Biosciences in a research note on Monday. They issued an outperform rating and a $50.00 target price on the stock. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $52.08.

IDEAYA Biosciences Stock Performance

IDYA opened at $39.62 on Monday. IDEAYA Biosciences has a fifty-two week low of $20.90 and a fifty-two week high of $47.74. The firm’s fifty day moving average is $38.33 and its 200 day moving average is $40.70. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of -19.71 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results 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 company’s revenue was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.49) earnings per share. On average, equities research analysts predict that IDEAYA Biosciences will post -2.37 earnings per share for the current year.

Insider Transactions at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the sale, the chief executive officer now owns 677,887 shares in the company, valued at $28,206,878.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the sale, the chief executive officer now owns 677,887 shares in the company, valued at $28,206,878.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yujiro S. Hata sold 34,433 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $41.81, for a total transaction of $1,439,643.73. Following the sale, the chief executive officer now owns 677,887 shares in the company, valued at approximately $28,342,455.47. The disclosure for this sale can be found here. Insiders have sold 119,644 shares of company stock worth $4,832,228 over the last 90 days. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of IDEAYA Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Walleye Capital LLC acquired a new stake in shares of IDEAYA Biosciences in the third quarter valued at about $2,265,000. Hudson Bay Capital Management LP acquired a new stake in shares of IDEAYA Biosciences in the third quarter valued at about $944,000. Vanguard Group Inc. grew its position in shares of IDEAYA Biosciences by 5.0% in the third quarter. Vanguard Group Inc. now owns 2,971,497 shares of the company’s stock valued at $80,171,000 after purchasing an additional 141,844 shares during the period. Exchange Traded Concepts LLC grew its position in shares of IDEAYA Biosciences by 34.0% in the fourth 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 during the period. Finally, Legato Capital Management LLC acquired a new stake in shares of IDEAYA Biosciences in the fourth quarter valued at about $445,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

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.