Shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA – Get Free Report) were down 6.8% during mid-day trading on Wednesday after Royal Bank Of Canada lowered their price target on the stock from $53.00 to $48.00. Royal Bank Of Canada currently has an outperform rating on the stock. IDEAYA Biosciences traded as low as $37.65 and last traded at $37.77. Approximately 641,933 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 1,152,205 shares. The stock had previously closed at $40.51.
Several other analysts have also issued reports on the company. Mizuho reduced their target price on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company increased their price objective on shares of IDEAYA Biosciences from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 14th. Truist Financial decreased their target price on shares of IDEAYA Biosciences from $65.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Tuesday, April 21st. Fifteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, IDEAYA Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $50.25.
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IDEAYA Biosciences Trading Down 6.6%
The firm has a market cap of $3.32 billion, a P/E ratio of -23.61 and a beta of -0.09. The business has a 50-day moving average of $30.99 and a two-hundred day moving average of $32.54.
IDEAYA Biosciences (NASDAQ:IDYA – Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($1.11) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.04). The business had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $5.04 million. The company’s revenue was down 39.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.82) EPS. As a group, equities analysts expect that IDEAYA Biosciences, Inc. will post -4.13 EPS for the current year.
IDEAYA Biosciences Company Profile
IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.
Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.
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