IDEAYA Biosciences (NASDAQ:IDYA) PT Lowered to $53.00 at Oppenheimer

IDEAYA Biosciences (NASDAQ:IDYA) had its price target decreased by Oppenheimer from $60.00 to $53.00 in a research report released on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms have also issued reports on IDYA. Royal Bank of Canada raised their price target on shares of IDEAYA Biosciences from $53.00 to $61.00 and gave the stock an outperform rating in a report on Thursday, July 11th. Stifel Nicolaus reissued a buy rating and set a $63.00 target price on shares of IDEAYA Biosciences in a research note on Monday, July 8th. Wedbush reaffirmed an outperform rating and issued a $54.00 price target (down from $56.00) on shares of IDEAYA Biosciences in a research note on Tuesday, July 16th. JPMorgan Chase & Co. increased their price objective on shares of IDEAYA Biosciences from $65.00 to $69.00 and gave the stock an overweight rating in a research report on Friday, July 12th. Finally, Mizuho initiated coverage on IDEAYA Biosciences in a research report on Monday, July 8th. They issued an outperform rating and a $50.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $55.90.

IDEAYA Biosciences Trading Up 0.8 %

IDYA traded up $0.31 on Wednesday, reaching $37.89. The stock had a trading volume of 560,125 shares, compared to its average volume of 911,210. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -18.85 and a beta of 0.87. IDEAYA Biosciences has a fifty-two week low of $23.41 and a fifty-two week high of $47.74. The firm has a 50-day moving average of $38.58 and a 200-day moving average of $41.19.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share 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 period in the prior year, the firm earned ($0.50) EPS. Sell-side analysts anticipate that IDEAYA Biosciences will post -2.22 EPS for the current fiscal year.

Insider Buying and Selling

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 56,711 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at $28,206,878.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the completion of the transaction, the chief executive officer now owns 677,887 shares in the company, valued at $28,206,878.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Anthony White sold 28,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were 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. In the last quarter, insiders have sold 119,644 shares of company stock valued at $4,832,228. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently made changes to their positions in IDYA. Quest Partners LLC purchased a new stake in IDEAYA Biosciences during the 2nd quarter worth about $41,000. Covestor Ltd grew its position in IDEAYA Biosciences by 9,225.0% during the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after buying an additional 1,107 shares in the last quarter. Comerica Bank increased its stake in IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after acquiring an additional 1,324 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of IDEAYA Biosciences in the 1st quarter valued at about $67,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of IDEAYA Biosciences by 637.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock valued at $68,000 after acquiring an additional 1,684 shares during the last quarter. Hedge funds and other institutional investors 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.