Oppenheimer Boosts IDEAYA Biosciences (NASDAQ:IDYA) Price Target to $60.00

IDEAYA Biosciences (NASDAQ:IDYAFree Report) had its price target boosted by Oppenheimer from $53.00 to $60.00 in a research report released on Monday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research firms have also commented on IDYA. Stifel Nicolaus reaffirmed a buy rating and set a $63.00 price objective on shares of IDEAYA Biosciences in a research note on Monday. The Goldman Sachs Group reduced their price objective on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a buy rating for the company in a research note on Monday, May 13th. Wedbush reaffirmed an outperform rating and set a $56.00 price objective (up from $52.00) on shares of IDEAYA Biosciences in a research note on Monday. Mizuho initiated coverage on shares of IDEAYA Biosciences in a research note on Monday. They set an outperform rating and a $50.00 price objective for the company. Finally, Citigroup upped their price objective on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the company a buy rating in a research note on Thursday, March 21st. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of Buy and an average target price of $51.42.

Read Our Latest Stock Analysis on IDYA

IDEAYA Biosciences Trading Down 3.4 %

NASDAQ:IDYA opened at $37.32 on Monday. IDEAYA Biosciences has a twelve month low of $20.90 and a twelve month high of $47.74. The company has a 50-day moving average of $38.37 and a 200-day moving average of $40.71. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -18.57 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYAGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.02). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. During the same quarter in the prior year, the business posted ($0.49) EPS. The company’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, research analysts forecast that IDEAYA Biosciences will post -2.37 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Michael Anthony White sold 28,500 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total value of $1,032,840.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Yujiro S. Hata sold 34,433 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total value of $1,439,643.73. Following the transaction, the chief executive officer now owns 677,887 shares in the company, valued at $28,342,455.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Anthony White sold 28,500 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total value of $1,032,840.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,644 shares of company stock worth $4,832,228. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd grew its holdings in IDEAYA Biosciences by 9,225.0% during the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after purchasing an additional 1,107 shares during the last quarter. Comerica Bank grew its holdings in IDEAYA Biosciences by 723.5% during the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after purchasing an additional 1,324 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in IDEAYA Biosciences during the first quarter valued at approximately $67,000. SG Americas Securities LLC acquired a new position in IDEAYA Biosciences during the first quarter valued at approximately $101,000. Finally, AJOVista LLC acquired a new position in IDEAYA Biosciences during the fourth quarter valued at approximately $99,000. Institutional investors and hedge funds own 98.29% of the company’s stock.

About IDEAYA Biosciences

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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.

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Analyst Recommendations for IDEAYA Biosciences (NASDAQ:IDYA)

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