Analysts Set IDEAYA Biosciences, Inc. (NASDAQ:IDYA) PT at $44.55

Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Get Free Report) have received an average recommendation of "Buy" from the thirteen ratings firms that are covering the firm, Marketbeat reports. Thirteen research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have covered the stock in the last year is $44.55.

A number of brokerages recently issued reports on IDYA. 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. Leerink Partnrs reaffirmed an "outperform" rating on shares of IDEAYA Biosciences in a research report on Friday, February 23rd. Capital One Financial reaffirmed an "overweight" rating on shares of IDEAYA Biosciences in a research report on Thursday, February 22nd. Royal Bank of Canada lifted 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, The Goldman Sachs Group lifted their target price on IDEAYA Biosciences from $36.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, January 25th.

IDEAYA Biosciences Price Performance

Shares of NASDAQ:IDYA traded down $0.27 during midday trading on Wednesday, reaching $42.30. 532,593 shares of the company's stock were exchanged, compared to its average volume of 888,316. The firm's 50 day simple moving average is $44.40 and its two-hundred day simple moving average is $36.41. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -21.47 and a beta of 0.80. IDEAYA Biosciences has a fifty-two week low of $13.29 and a fifty-two week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.05). The business had revenue of $3.90 million for the quarter, compared to analyst estimates of $8.84 million. IDEAYA Biosciences had a negative return on equity of 23.00% and a negative net margin of 483.05%. IDEAYA Biosciences's revenue for the quarter was down 3.0% on a year-over-year basis. Equities research analysts predict that IDEAYA Biosciences will post -2.26 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Yujiro S. Hata sold 62,739 shares of IDEAYA Biosciences stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $40.17, for a total value of $2,520,225.63. Following the completion of the transaction, the chief executive officer now owns 677,887 shares in the company, valued at approximately $27,230,720.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Yujiro S. Hata sold 62,739 shares of the business's stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $40.17, for a total transaction of $2,520,225.63. Following the completion of the sale, the chief executive officer now owns 677,887 shares in the company, valued at $27,230,720.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Briseno Andres Ruiz sold 2,000 shares of the business's stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $38.01, for a total value of $76,020.00. Following the sale, the insider now owns 28,531 shares of the company's stock, valued at approximately $1,084,463.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,557 shares of company stock worth $4,336,062. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently added to or reduced their stakes in IDYA. Point72 Hong Kong Ltd lifted its stake in IDEAYA Biosciences by 363.7% during the first quarter. Point72 Hong Kong Ltd now owns 3,376 shares of the company's stock worth $38,000 after purchasing an additional 2,648 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in IDEAYA Biosciences by 96.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,474 shares of the company's stock worth $40,000 after buying an additional 723 shares during the period. Quantbot Technologies LP increased its position in IDEAYA Biosciences by 90.5% during the first quarter. Quantbot Technologies LP now owns 4,000 shares of the company's stock worth $44,000 after buying an additional 1,900 shares during the period. Point72 Asset Management L.P. acquired a new position in IDEAYA Biosciences during the fourth quarter worth approximately $49,000. Finally, Metropolitan Life Insurance Co NY increased its position in IDEAYA Biosciences by 39.3% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,743 shares of the company's stock worth $50,000 after buying an additional 774 shares during the period. Hedge funds and other 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.