IDEAYA Biosciences (NASDAQ:IDYA – Get Free Report)‘s stock had its “market outperform” rating reaffirmed by investment analysts at Citizens Jmp in a research report issued on Tuesday, Benzinga reports. They currently have a $42.00 target price on the stock. Citizens Jmp’s target price points to a potential upside of 6.59% from the stock’s current price.
IDYA has been the topic of a number of other research reports. Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Friday, May 22nd. Royal Bank Of Canada lowered their price target on IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Wall Street Zen downgraded IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Mizuho cut their price objective on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Sixteen 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 MarketBeat.com, IDEAYA Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.19.
Check Out Our Latest Stock Report on IDYA
IDEAYA Biosciences Stock Performance
IDEAYA Biosciences (NASDAQ:IDYA – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.16). IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The company had revenue of $8.86 million for the quarter, compared to analysts’ expectations of $8.02 million. During the same period in the previous year, the business earned ($0.88) EPS. The business’s revenue was up 8800.0% compared to the same quarter last year. Research analysts forecast that IDEAYA Biosciences will post -4.38 EPS for the current fiscal year.
Insider Activity
In related news, CAO Briseno Andres Ruiz sold 9,550 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction of $382,095.50. Following the completion of the sale, the chief accounting officer directly owned 26,466 shares in the company, valued at approximately $1,058,904.66. The trade was a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.70% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of IDEAYA Biosciences during the 2nd quarter worth $331,452,000. Jupiter Topco LLC purchased a new stake in shares of IDEAYA Biosciences in the 2nd quarter worth $319,728,000. Janus Henderson Group PLC raised its holdings in IDEAYA Biosciences by 1.1% in the 1st quarter. Janus Henderson Group PLC now owns 7,265,253 shares of the company’s stock worth $242,023,000 after purchasing an additional 78,797 shares during the period. Vanguard Group Inc. raised its holdings in IDEAYA Biosciences by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 5,019,324 shares of the company’s stock worth $173,518,000 after purchasing an additional 97,116 shares during the period. Finally, State Street Corp lifted its position in IDEAYA Biosciences by 27.6% during the fourth quarter. State Street Corp now owns 4,134,641 shares of the company’s stock valued at $142,935,000 after purchasing an additional 893,707 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors.
About IDEAYA Biosciences
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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