IDEAYA Biosciences’ (IDYA) Buy Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note issued to investors on Monday, Benzinga reports. Stifel Nicolaus currently has a $63.00 price objective on the stock.

A number of other analysts have also recently commented on the stock. Citigroup increased their price target on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the company a buy rating in a research note on Thursday, March 21st. Mizuho began coverage on shares of IDEAYA Biosciences in a research note on Monday. They issued an outperform rating and a $50.00 price target for the company. The Goldman Sachs Group cut their price target on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a buy rating for the company in a research note on Monday, May 13th. Finally, Wedbush reiterated an outperform rating and issued a $56.00 price target (up previously from $52.00) on shares of IDEAYA Biosciences in a research note on Monday. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of Buy and a consensus price target of $51.42.

IDEAYA Biosciences Trading Down 3.4 %

IDEAYA Biosciences stock opened at $37.32 on Monday. The company has a market cap of $2.82 billion, a P/E ratio of -18.57 and a beta of 0.86. IDEAYA Biosciences has a 1-year low of $20.90 and a 1-year high of $47.74. The company has a fifty day simple moving average of $38.37 and a 200 day simple moving average of $40.71.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. IDEAYA Biosciences’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.49) earnings per share. On average, equities research analysts forecast that IDEAYA Biosciences will post -2.37 EPS for the current year.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, insider Michael Anthony White sold 28,500 shares of IDEAYA Biosciences stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total value of $1,032,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other IDEAYA Biosciences news, insider Michael Anthony White sold 28,500 shares of IDEAYA Biosciences stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total value of $1,032,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yujiro S. Hata sold 56,711 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the completion of the sale, the chief executive officer now owns 677,887 shares of the company’s stock, valued at approximately $28,206,878.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,644 shares of company stock worth $4,832,228. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds have recently bought and sold shares of the company. Covestor Ltd increased its holdings in IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after buying an additional 1,107 shares during the period. Comerica Bank increased its holdings in IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after buying an additional 1,324 shares during the period. JTC Employer Solutions Trustee Ltd bought a new position in IDEAYA Biosciences in the 1st quarter valued at about $67,000. AJOVista LLC bought a new position in IDEAYA Biosciences in the 4th quarter valued at about $99,000. Finally, SG Americas Securities LLC bought a new position in IDEAYA Biosciences in the 1st quarter valued at about $101,000. 98.29% of the stock is owned by 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.