Mizuho Lowers IDEAYA Biosciences (NASDAQ:IDYA) Price Target to $50.00

Key Points

• Mizuho cut its price target on IDEAYA to $50 (from $52) while maintaining an outperform rating, implying roughly a 73.97% potential upside from the prior close.
• Analyst sentiment remains largely positive — 15 Buy, 1 Hold and 1 Sell — with a MarketBeat consensus target of $50.69 and an overall "Moderate Buy" rating.
• IDEAYA missed Q1 EPS at ($1.11) vs. ($1.01) expected and reported revenue down 39.4% YoY to $6.56M, though director Jeffrey Stein bought 50,000 shares, significantly increasing his stake.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) had its price objective decreased by equities research analysts at Mizuho from $52.00 to $50.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price objective would suggest a potential upside of 73.97% from the stock's previous close.

Other research analysts also recently issued research reports about the company. Wall Street Zen raised IDEAYA Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, April 18th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Citigroup raised their price target on IDEAYA Biosciences from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Royal Bank Of Canada raised their price target on IDEAYA Biosciences from $49.00 to $53.00 and gave the stock an "outperform" rating in a report on Tuesday, April 14th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of IDEAYA Biosciences in a report on Tuesday, April 21st. Fifteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IDEAYA Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $50.69.

IDEAYA Biosciences Stock Performance

IDYA stock opened at $28.74 on Thursday. IDEAYA Biosciences has a 1 year low of $16.82 and a 1 year high of $39.28. The firm has a market cap of $2.53 billion, a P/E ratio of -17.96 and a beta of -0.04. The stock has a 50-day simple moving average of $32.07 and a 200-day simple moving average of $32.97.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.11) earnings per share for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.10). The business had revenue of $6.56 million during the quarter, compared to analysts' expectations of $5.04 million. During the same period in the previous year, the business posted ($0.82) EPS. The firm's quarterly revenue was down 39.4% compared to the same quarter last year. On average, equities research analysts predict that IDEAYA Biosciences will post -3.97 EPS for the current year.

Insider Activity

In related news, Director Jeffrey Stein purchased 50,000 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average price of $32.96 per share, with a total value of $1,648,000.00. Following the acquisition, the director owned 54,281 shares in the company, valued at approximately $1,789,101.76. This trade represents a 1,167.95% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company's stock.

Institutional Trading of IDEAYA Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its stake in shares of IDEAYA Biosciences by 1.5% in the third quarter. Arizona State Retirement System now owns 23,324 shares of the company's stock worth $635,000 after purchasing an additional 353 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in shares of IDEAYA Biosciences by 49.4% in the fourth 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. Daiwa Securities Group Inc. grew 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 in the last quarter. Russell Investments Group Ltd. grew its stake in shares of IDEAYA Biosciences by 5.2% in the fourth quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company's stock worth $335,000 after purchasing an additional 476 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of IDEAYA Biosciences by 16.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,881 shares of the company's stock worth $106,000 after purchasing an additional 537 shares in the last quarter. Institutional investors own 98.29% of the company's stock.

About IDEAYA Biosciences

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.

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