IDEAYA Biosciences (NASDAQ:IDYA) Given New $53.00 Price Target at Oppenheimer

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective cut by Oppenheimer from $60.00 to $53.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently issued reports on IDYA. JPMorgan Chase & Co. upped their price target on IDEAYA Biosciences from $65.00 to $69.00 and gave the stock an overweight rating in a report on Friday, July 12th. The Goldman Sachs Group dropped their price target on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a buy rating on the stock in a research report on Monday, May 13th. Stifel Nicolaus reaffirmed a buy rating and issued a $63.00 price objective on shares of IDEAYA Biosciences in a research report on Monday, July 8th. BTIG Research increased their price objective 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. Finally, Lifesci Capital upgraded IDEAYA Biosciences to a strong-buy rating in a research note on Monday, July 29th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and an average target price of $55.90.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA opened at $37.89 on Wednesday. IDEAYA Biosciences has a one year low of $23.41 and a one year high of $47.74. The company has a market cap of $2.87 billion, a PE ratio of -18.85 and a beta of 0.87. The firm has a 50-day moving average of $38.58 and a 200-day moving average of $41.19.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the company posted ($0.50) EPS. On average, equities research analysts expect that IDEAYA Biosciences will post -2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 56,711 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total value of $2,359,744.71. Following the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at $28,206,878.07. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, 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 directly owns 677,887 shares in the company, valued at approximately $28,342,455.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Yujiro S. Hata sold 56,711 shares of IDEAYA Biosciences stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the completion of the transaction, the chief executive officer now owns 677,887 shares of the company’s stock, valued at $28,206,878.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,644 shares of company stock valued at $4,832,228. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Institutional investors have recently made changes to their positions in the stock. Quest Partners LLC purchased a new position in shares of IDEAYA Biosciences in the second quarter valued at $41,000. Covestor Ltd grew its holdings in IDEAYA Biosciences by 9,225.0% during the 1st quarter. Covestor Ltd now owns 1,119 shares of the company’s stock valued at $49,000 after buying an additional 1,107 shares in the last quarter. Comerica Bank increased its position in shares of 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 buying an additional 1,324 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of IDEAYA Biosciences in the first quarter worth about $67,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of IDEAYA Biosciences by 637.9% in 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 in the last quarter. 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.