Mizuho Boosts IDEAYA Biosciences (NASDAQ:IDYA) Price Target to $44.00

Key Points

• Mizuho has raised its price target for IDEAYA Biosciences from $43.00 to $44.00, reflecting a potential upside of 74.51% from the last closing price.
• Multiple analysts maintain positive ratings on the stock, with targets ranging from $36.00 to $74.00, leading to an average rating of "Moderate Buy" and a consensus target of $42.85.
• IDEAYA reported a quarterly revenue of $6.00 million, surpassing expectations but missed EPS estimates, leading to a projected EPS of -$3.07 for the current year.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) had its target price boosted by stock analysts at Mizuho from $43.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's price objective points to a potential upside of 74.51% from the company's previous close.

A number of other equities analysts also recently weighed in on IDYA. Stephens reaffirmed an "overweight" rating and issued a $45.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of IDEAYA Biosciences from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Oppenheimer set a $36.00 price target on shares of IDEAYA Biosciences and gave the stock an "outperform" rating in a research note on Monday. Citigroup reaffirmed a "buy" rating on shares of IDEAYA Biosciences in a research note on Tuesday. Finally, JMP Securities began coverage on shares of IDEAYA Biosciences in a research report on Thursday, September 4th. They set a "market outperform" rating and a $41.00 target price on the stock. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $42.85.

IDEAYA Biosciences Stock Up 1.1%

Shares of IDYA traded up $0.28 during mid-day trading on Friday, reaching $25.21. The company's stock had a trading volume of 64,060 shares, compared to its average volume of 1,153,991. The business has a fifty day moving average of $23.89 and a 200 day moving average of $20.72. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -6.63 and a beta of 0.12. IDEAYA Biosciences has a 1 year low of $13.45 and a 1 year high of $37.80.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.85) by ($0.03). The firm had revenue of $6.00 million during the quarter, compared to the consensus estimate of $3.48 million. The firm's quarterly revenue was up NaN% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.68) EPS. On average, analysts predict that IDEAYA Biosciences will post -3.07 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in shares of IDEAYA Biosciences in the fourth quarter valued at about $47,000. CWM LLC lifted its stake in shares of IDEAYA Biosciences by 325.7% in the first quarter. CWM LLC now owns 2,371 shares of the company's stock valued at $39,000 after buying an additional 1,814 shares during the period. PNC Financial Services Group Inc. lifted its stake in IDEAYA Biosciences by 180.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,404 shares of the company's stock worth $39,000 after purchasing an additional 1,546 shares during the period. Signaturefd LLC lifted its stake in IDEAYA Biosciences by 374.8% during the first quarter. Signaturefd LLC now owns 2,877 shares of the company's stock worth $47,000 after purchasing an additional 2,271 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new position in IDEAYA Biosciences during the second quarter worth about $61,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.