IDEAYA Biosciences (NASDAQ:IDYA) Given “Outperform” Rating at Wedbush

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $54.00 price objective on the stock. Wedbush’s target price indicates a potential upside of 42.52% from the stock’s previous close. Wedbush also issued estimates for IDEAYA Biosciences’ Q3 2024 earnings at ($0.72) EPS, Q4 2024 earnings at ($0.71) EPS, FY2024 earnings at ($2.67) EPS, Q1 2025 earnings at ($0.79) EPS, Q2 2025 earnings at ($0.84) EPS, Q3 2025 earnings at ($0.90) EPS, Q4 2025 earnings at ($0.96) EPS, FY2025 earnings at ($3.47) EPS, FY2026 earnings at ($3.58) EPS, FY2027 earnings at ($2.64) EPS and FY2028 earnings at ($0.32) EPS.

Several other brokerages also recently issued reports on IDYA. BTIG Research raised their target price on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Stifel Nicolaus restated a “buy” rating and set a $63.00 price objective on shares of IDEAYA Biosciences in a research report on Monday, July 8th. Oppenheimer cut their price objective on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday. The Goldman Sachs Group cut 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. Finally, Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a research report on Monday, July 29th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IDEAYA Biosciences presently has an average rating of “Buy” and an average price target of $55.90.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA traded up $0.31 during mid-day trading on Wednesday, hitting $37.89. The stock had a trading volume of 553,740 shares, compared to its average volume of 911,168. IDEAYA Biosciences has a twelve month low of $23.41 and a twelve month high of $47.74. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of -18.70 and a beta of 0.87. The company’s 50 day simple moving average is $38.56 and its 200 day simple moving average is $41.23.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. During the same quarter last year, the company earned ($0.50) earnings per share. As a group, equities analysts forecast that IDEAYA Biosciences will post -2.22 earnings per share for the current year.

Insider Transactions at IDEAYA Biosciences

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

Institutional Trading of IDEAYA Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd grew its stake in shares of IDEAYA Biosciences by 9,225.0% during the first quarter. Covestor Ltd now owns 1,119 shares of the company’s stock worth $49,000 after buying an additional 1,107 shares during the last quarter. Quest Partners LLC bought a new stake in shares of IDEAYA Biosciences during the second quarter worth $41,000. Comerica Bank grew its stake in shares of IDEAYA Biosciences by 723.5% during the first quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after buying an additional 1,324 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in shares of IDEAYA Biosciences during the first quarter worth $67,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of IDEAYA Biosciences by 637.9% during the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after buying an additional 1,684 shares during the last quarter. Institutional investors own 98.29% of the company’s stock.

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.