IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Receives Consensus Rating of “Buy” from Analysts

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) has received an average rating of “Buy” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $44.55.

A number of equities research analysts recently commented on IDYA shares. Leerink Partnrs reissued an “outperform” rating on shares of IDEAYA Biosciences in a research report on Friday, February 23rd. BTIG Research initiated coverage on IDEAYA Biosciences in a report on Friday, March 8th. They set a “buy” rating and a $55.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on IDEAYA Biosciences from $51.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Royal Bank of Canada upped their target price on IDEAYA Biosciences from $43.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. Finally, Citigroup raised their price target on IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, March 21st.

Insider Buying and Selling

In related news, insider Briseno Andres Ruiz sold 2,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $46.02, for a total value of $92,040.00. Following the transaction, the insider now owns 24,531 shares in the company, valued at approximately $1,128,916.62. The sale was disclosed in a filing with the SEC, which is available through this link. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 23,557 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the sale, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $30,870,973.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Briseno Andres Ruiz sold 2,000 shares of IDEAYA Biosciences stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $46.02, for a total value of $92,040.00. Following the transaction, the insider now owns 24,531 shares of the company’s stock, valued at approximately $1,128,916.62. The disclosure for this sale can be found here. Insiders sold 27,557 shares of company stock valued at $1,248,886 over the last quarter. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of IDEAYA Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in IDEAYA Biosciences by 22.7% in the 2nd quarter. BlackRock Inc. now owns 4,355,696 shares of the company’s stock worth $102,359,000 after purchasing an additional 806,603 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of IDEAYA Biosciences by 43.6% in 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. Price T Rowe Associates Inc. MD lifted its stake in shares of IDEAYA Biosciences by 17.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,566,278 shares of the company’s stock valued at $126,889,000 after purchasing an additional 535,909 shares during the period. Fisher Asset Management LLC grew its position in IDEAYA Biosciences by 1,611.9% during the fourth quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock valued at $19,202,000 after buying an additional 508,151 shares during the period. Finally, Vanguard Group Inc. increased its holdings in IDEAYA Biosciences by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 3,475,772 shares of the company’s stock valued at $123,668,000 after buying an additional 504,275 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA opened at $41.17 on Wednesday. IDEAYA Biosciences has a 1-year low of $13.81 and a 1-year high of $47.74. The business has a fifty day moving average price of $44.25 and a 200 day moving average price of $36.91. The stock has a market capitalization of $3.07 billion, a P/E ratio of -20.90 and a beta of 0.80.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, February 20th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.05). The firm had revenue of $3.90 million during the quarter, compared to the consensus estimate of $8.84 million. IDEAYA Biosciences had a negative return on equity of 23.00% and a negative net margin of 483.05%. The company’s revenue was down 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that IDEAYA Biosciences will post -2.26 earnings per share for the current fiscal year.

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.