IDEAYA Biosciences (NASDAQ:IDYA) Given New $44.00 Price Target at Mizuho

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 price target hoisted by analysts at Mizuho from $43.00 to $44.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's target price points to a potential upside of 75.79% from the stock's current price.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company began coverage on IDEAYA Biosciences in a research report on Thursday, June 26th. They issued an "overweight" rating and a $44.00 price objective on the stock. The Goldman Sachs Group raised IDEAYA Biosciences to a "hold" rating and set a $25.00 price objective for the company in a research note on Thursday, July 10th. Barclays initiated coverage on IDEAYA Biosciences in a research note on Thursday, September 4th. They issued an "overweight" rating and a $40.00 price objective for the company. JMP Securities began coverage on IDEAYA Biosciences in a research note on Thursday, September 4th. They issued a "market outperform" rating and a $41.00 price objective for the company. Finally, Stephens reaffirmed an "overweight" rating and issued a $45.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 9th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.85.

IDEAYA Biosciences Stock Performance

NASDAQ IDYA traded up $0.31 during trading hours on Friday, reaching $25.03. The stock had a trading volume of 299,047 shares, compared to its average volume of 1,150,441. The stock has a fifty day moving average of $24.08 and a 200 day moving average of $20.81. The stock has a market cap of $2.19 billion, a P/E ratio of -6.62 and a beta of 0.12. IDEAYA Biosciences has a 52-week low of $13.45 and a 52-week high of $36.70.

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

Institutional Investors Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in IDYA. Vanguard Group Inc. lifted its stake in IDEAYA Biosciences by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,092,619 shares of the company's stock valued at $83,417,000 after buying an additional 14,535 shares during the last quarter. Geode Capital Management LLC lifted its stake in IDEAYA Biosciences by 1.6% in the second quarter. Geode Capital Management LLC now owns 2,113,164 shares of the company's stock valued at $44,424,000 after buying an additional 33,286 shares during the last quarter. Fiera Capital Corp lifted its stake in IDEAYA Biosciences by 26.6% in the second quarter. Fiera Capital Corp now owns 1,532,269 shares of the company's stock valued at $32,208,000 after buying an additional 322,404 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in IDEAYA Biosciences by 4.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,238,094 shares of the company's stock valued at $26,025,000 after buying an additional 50,000 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in IDEAYA Biosciences by 5.9% in the fourth quarter. Bank of America Corp DE now owns 747,934 shares of the company's stock valued at $19,222,000 after buying an additional 41,390 shares during the last quarter. Institutional investors and hedge funds 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.