IDEAYA Biosciences’ (IDYA) Outperform Rating Reaffirmed at Royal Bank of Canada

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They presently have a $61.00 price objective on the stock. Royal Bank of Canada’s target price indicates a potential upside of 67.31% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Oppenheimer reduced their target price on IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday. Lifesci Capital upgraded IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $63.00 target price on shares of IDEAYA Biosciences in a report on Monday, July 8th. Wedbush reiterated an “outperform” rating and issued a $54.00 target price on shares of IDEAYA Biosciences in a report on Wednesday. Finally, The Goldman Sachs Group reduced their target price on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $52.33.

IDEAYA Biosciences Stock Up 1.3 %

Shares of NASDAQ:IDYA traded up $0.46 during midday trading on Wednesday, reaching $36.46. The company’s stock had a trading volume of 243,325 shares, compared to its average volume of 911,599. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -18.19 and a beta of 0.87. IDEAYA Biosciences has a 1 year low of $21.49 and a 1 year high of $47.74. The business has a 50 day moving average price of $38.52 and a 200 day moving average price of $41.29.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. During the same period in the previous year, the company posted ($0.50) earnings per share. 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 34,433 shares of IDEAYA Biosciences stock in a transaction dated 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 directly owns 677,887 shares of the company’s stock, valued at $28,342,455.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Yujiro S. Hata sold 56,711 shares of the business’s stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Yujiro S. Hata sold 34,433 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.81, for a total value of $1,439,643.73. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at $28,342,455.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,644 shares of company stock valued at $4,832,228. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

Several institutional investors have recently made changes to their positions in the stock. Covestor Ltd boosted its position in shares of 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 during the period. Quest Partners LLC acquired a new position in shares of IDEAYA Biosciences during the second quarter worth approximately $41,000. Comerica Bank boosted its position in shares of IDEAYA Biosciences by 723.5% during the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after buying an additional 1,324 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new position in shares of IDEAYA Biosciences during the first quarter worth approximately $67,000. Finally, SG Americas Securities LLC acquired a new position in shares of IDEAYA Biosciences during the first quarter worth approximately $101,000. 98.29% of the stock is owned by institutional investors.

IDEAYA Biosciences Company Profile

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.