Citizens Jmp Reaffirms Market Outperform Rating for IDEAYA Biosciences (NASDAQ:IDYA)

Key Points

• Citizens Jmp reaffirmed its “market outperform” rating on IDEAYA Biosciences, setting a $42 price target—about 6.6% above the prior close.
• Analyst sentiment remains broadly positive: 16 analysts rate the stock Buy, with a consensus “Moderate Buy” rating and an average price target of $50.19.
• IDEAYA reported a quarterly loss of $1.22 per share, missing estimates, though revenue of $8.86 million exceeded expectations and rose sharply year over year.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report)'s stock had its "market outperform" rating restated by equities researchers at Citizens Jmp in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $42.00 target price on the stock. Citizens Jmp's price target would indicate a potential upside of 6.59% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Citigroup reaffirmed a "market outperform" rating on shares of IDEAYA Biosciences in a research note on Tuesday. Jefferies Financial Group reissued a "buy" rating on shares of IDEAYA Biosciences in a research report on Tuesday. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Royal Bank Of Canada reduced their price objective on IDEAYA Biosciences from $53.00 to $48.00 and set an "outperform" rating for the company in a research report on Tuesday, July 7th. Finally, Mizuho lowered their price objective on IDEAYA Biosciences from $52.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, May 7th. Sixteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, IDEAYA Biosciences currently has an average rating of "Moderate Buy" and a consensus target price of $50.19.

IDEAYA Biosciences Trading Down 1.7%

Shares of IDEAYA Biosciences stock opened at $39.40 on Tuesday. IDEAYA Biosciences has a 12 month low of $23.23 and a 12 month high of $42.68. The firm has a market capitalization of $3.46 billion, a P/E ratio of -20.49 and a beta of -0.10. The business has a fifty day simple moving average of $37.28 and a two-hundred day simple moving average of $33.22.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share for the quarter, missing analysts' consensus estimates of ($1.06) by ($0.16). IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%.The business had revenue of $8.86 million during the quarter, compared to analysts' expectations of $8.02 million. During the same period in the prior year, the company earned ($0.88) earnings per share. The firm's quarterly revenue was up 8800.0% compared to the same quarter last year. Analysts predict that IDEAYA Biosciences will post -4.38 earnings per share for the current year.

Insiders Place Their Bets

In other IDEAYA Biosciences news, CAO Briseno Andres Ruiz sold 9,550 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $382,095.50. Following the completion of the transaction, the chief accounting officer directly owned 26,466 shares of the company's stock, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.70% of the company's stock.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of institutional investors have recently made changes to their positions in IDYA. Farther Finance Advisors LLC raised its holdings in IDEAYA Biosciences by 171.1% in the 4th quarter. Farther Finance Advisors LLC now owns 919 shares of the company's stock worth $32,000 after acquiring an additional 580 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in shares of IDEAYA Biosciences by 49.4% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company's stock worth $40,000 after purchasing an additional 380 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth $43,000. Global Retirement Partners LLC bought a new stake in shares of IDEAYA Biosciences in the 4th quarter worth $61,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of IDEAYA Biosciences by 16.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company's stock worth $66,000 after purchasing an additional 436 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company's stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA's pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA's approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source