IDEAYA Biosciences (NASDAQ:IDYA) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $61.00 price target on the stock.

A number of other brokerages have also weighed in on IDYA. Mizuho initiated coverage on IDEAYA Biosciences in a research note on Monday, July 8th. They set an outperform rating and a $50.00 price target on the stock. Stifel Nicolaus restated a buy rating and set a $63.00 price objective on shares of IDEAYA Biosciences in a report on Monday, July 8th. Lifesci Capital upgraded IDEAYA Biosciences to a strong-buy rating in a report on Monday, July 29th. Oppenheimer dropped their price objective on IDEAYA Biosciences from $60.00 to $53.00 and set an outperform rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on IDEAYA Biosciences from $65.00 to $69.00 and gave the stock an overweight rating in a report on Friday, July 12th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $55.90.

IDEAYA Biosciences Stock Up 0.8 %

Shares of 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 firm has a market capitalization of $2.87 billion, a PE ratio of -18.85 and a beta of 0.87. The firm has a 50-day moving average of $38.58 and a 200 day moving average of $41.19. IDEAYA Biosciences has a twelve month low of $23.41 and a twelve month high of $47.74.

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 analysts’ consensus estimates 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 last year, the firm posted ($0.50) earnings per share. On average, sell-side analysts anticipate that IDEAYA Biosciences will post -2.22 earnings per share for the current fiscal year.

Insider Transactions at IDEAYA Biosciences

In other 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 transaction, the chief executive officer now owns 677,887 shares of the company’s stock, valued at $28,206,878.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Yujiro S. Hata sold 34,433 shares of IDEAYA Biosciences stock in a transaction that occurred on Thursday, May 16th. The stock was 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 of the company’s stock, valued at $28,342,455.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Yujiro S. Hata sold 56,711 shares of IDEAYA Biosciences stock in a transaction that occurred 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 directly owns 677,887 shares in the company, valued at approximately $28,206,878.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,644 shares of company stock valued at $4,832,228. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of IDEAYA Biosciences by 19.6% during the first quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after acquiring an additional 679,985 shares during the period. Price T Rowe Associates Inc. MD raised its stake in IDEAYA Biosciences by 13.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock valued at $177,825,000 after purchasing an additional 486,222 shares during the period. Federated Hermes Inc. raised its stake in IDEAYA Biosciences by 14.8% during the 4th quarter. Federated Hermes Inc. now owns 3,883,775 shares of the company’s stock valued at $138,185,000 after purchasing an additional 500,046 shares during the period. Janus Henderson Group PLC raised its stake in IDEAYA Biosciences by 7.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock valued at $167,104,000 after purchasing an additional 256,559 shares during the period. Finally, Capital Research Global Investors raised its stake in IDEAYA Biosciences by 43.6% during the 4th quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock valued at $70,337,000 after purchasing an additional 600,000 shares during the period. 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.