IDEAYA Biosciences (NASDAQ:IDYA) Coverage Initiated at Mizuho

Research analysts at Mizuho started coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $50.00 price target on the stock. Mizuho’s price target would indicate a potential upside of 29.47% from the stock’s previous close.

Several other brokerages also recently issued reports on IDYA. Stifel Nicolaus upped their price target on IDEAYA Biosciences from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Citigroup upped their target price on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Wedbush reissued an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, May 8th. Finally, 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 report on Monday, May 13th. Fourteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $51.42.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA opened at $38.62 on Monday. The company has a 50-day moving average price of $38.44 and a 200-day moving average price of $40.74. The stock has a market capitalization of $2.92 billion, a P/E ratio of -19.21 and a beta of 0.86. IDEAYA Biosciences has a 1 year low of $20.90 and a 1 year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share (EPS) 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 20.09%. The business’s revenue was down 100.0% on a year-over-year basis. During the same period last year, the company posted ($0.49) EPS. As a group, equities research analysts anticipate that IDEAYA Biosciences will post -2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On IDEAYA Biosciences

Large investors have recently made changes to their positions in the stock. Boston Partners purchased a new position in IDEAYA Biosciences during the 1st quarter valued at about $588,000. Farallon Capital Management LLC purchased a new stake in shares of IDEAYA Biosciences during the 1st quarter valued at $219,000. Comerica Bank raised its position 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 in the last quarter. California State Teachers Retirement System boosted its holdings in shares of IDEAYA Biosciences by 19.0% in the 1st quarter. California State Teachers Retirement System now owns 57,535 shares of the company’s stock worth $2,525,000 after purchasing an additional 9,176 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of IDEAYA Biosciences by 7.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock valued at $167,104,000 after buying an additional 256,559 shares in the last quarter. 98.29% of the stock is owned by 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.