Wedbush Reaffirms "Outperform" Rating for IDEAYA Biosciences (NASDAQ:IDYA)

Wedbush restated their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA - Free Report) in a research report released on Wednesday morning, Benzinga reports. The firm currently has a $52.00 target price on the stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada raised their price objective on shares of IDEAYA Biosciences from $43.00 to $53.00 and gave the company an outperform rating in a research note on Wednesday, February 21st. Citigroup upped their price target on IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a buy rating in a report on Thursday, March 21st. BTIG Research initiated coverage on IDEAYA Biosciences in a research note on Friday, March 8th. They issued a buy rating and a $55.00 price objective for the company. The Goldman Sachs Group upped their target price on shares of IDEAYA Biosciences from $36.00 to $53.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Finally, Capital One Financial reiterated an overweight rating on shares of IDEAYA Biosciences in a report on Thursday, February 22nd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and a consensus price target of $47.50.

IDEAYA Biosciences Trading Down 3.1 %

IDEAYA Biosciences stock traded down $1.34 during trading on Wednesday, hitting $41.41. The company had a trading volume of 550,931 shares, compared to its average volume of 834,586. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -21.02 and a beta of 0.83. IDEAYA Biosciences has a 1-year low of $19.01 and a 1-year high of $47.74. The company's 50 day simple moving average is $42.63 and its 200-day simple moving average is $38.38.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 23.00%. During the same period last year, the firm earned ($0.49) earnings per share. IDEAYA Biosciences's revenue was down 100.0% on a year-over-year basis. As a group, analysts forecast that IDEAYA Biosciences will post -2.26 earnings per share for the current fiscal year.

Insider Activity

In other IDEAYA Biosciences news, insider Briseno Andres Ruiz sold 2,000 shares of IDEAYA Biosciences stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $46.02, for a total transaction of $92,040.00. Following the transaction, the insider now owns 24,531 shares of the company's stock, valued at $1,128,916.62. The transaction was disclosed in a filing with the SEC, which is available at this link. In other IDEAYA Biosciences news, insider Briseno Andres Ruiz sold 2,000 shares of the firm's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $46.02, for a total transaction of $92,040.00. Following the transaction, the insider now directly owns 24,531 shares of the company's stock, valued at approximately $1,128,916.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yujiro S. Hata sold 23,557 shares of the company's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares of the company's stock, valued at $30,870,973.98. The disclosure for this sale can be found here. Company insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Entropy Technologies LP acquired a new stake in shares of IDEAYA Biosciences in the 1st quarter worth $679,000. ProShare Advisors LLC lifted its position in IDEAYA Biosciences by 21.1% in the first quarter. ProShare Advisors LLC now owns 17,047 shares of the company's stock valued at $748,000 after purchasing an additional 2,966 shares during the period. Swiss National Bank lifted its position in IDEAYA Biosciences by 30.9% in the first quarter. Swiss National Bank now owns 111,400 shares of the company's stock valued at $4,888,000 after purchasing an additional 26,300 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in IDEAYA Biosciences in the 1st quarter valued at approximately $459,000. Finally, Oppenheimer & Co. Inc. acquired a new position in IDEAYA Biosciences during the 1st quarter worth approximately $217,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile

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.