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

Wedbush reissued their outperform rating on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note published on Wednesday morning, Benzinga reports. They currently have a $52.00 target price on the stock. Wedbush also issued estimates for IDEAYA Biosciences’ Q1 2025 earnings at ($0.72) EPS, Q2 2025 earnings at ($0.74) EPS, Q3 2025 earnings at ($0.76) EPS, Q4 2025 earnings at ($0.78) EPS and FY2028 earnings at $4.10 EPS.

A number of other equities analysts have also recently commented on the company. Citigroup boosted their price target on IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a buy rating in a report on Thursday, March 21st. BTIG Research initiated coverage on IDEAYA Biosciences in a research report on Friday, March 8th. They set a buy rating and a $55.00 price objective for the company. Leerink Partnrs reiterated an outperform rating on shares of IDEAYA Biosciences in a report on Friday, February 23rd. Royal Bank of Canada lifted their price objective on shares of IDEAYA Biosciences from $43.00 to $53.00 and gave the company an outperform rating in a research note on Wednesday, February 21st. Finally, The Goldman Sachs Group increased their target price on shares of IDEAYA Biosciences from $36.00 to $53.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, IDEAYA Biosciences presently has a consensus rating of Buy and an average target price of $47.50.

IDEAYA Biosciences Price Performance

NASDAQ:IDYA traded down $0.48 during trading hours on Wednesday, reaching $40.93. 33,507 shares of the company were exchanged, compared to its average volume of 825,534. The company has a market capitalization of $3.06 billion, a P/E ratio of -21.02 and a beta of 0.83. The business has a 50 day moving average of $42.63 and a 200 day moving average of $38.38. IDEAYA Biosciences has a 1-year low of $20.68 and a 1-year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 23.00% and a negative net margin of 483.05%. IDEAYA Biosciences’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.49) EPS. As a group, equities research analysts anticipate that IDEAYA Biosciences will post -2.26 earnings per share for the current fiscal year.

Insider Activity at IDEAYA Biosciences

In related news, CEO Yujiro S. Hata sold 23,557 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the completion of the transaction, the chief executive officer now owns 677,887 shares in the company, valued at $30,870,973.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 23,557 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $45.54, for a total value of $1,072,785.78. Following the completion of the transaction, the chief executive officer now owns 677,887 shares in the company, valued at $30,870,973.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Briseno Andres Ruiz sold 2,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $46.02, for a total value of $92,040.00. Following the completion of the transaction, the insider now owns 24,531 shares of the company’s stock, valued at approximately $1,128,916.62. The disclosure for this sale can be found here. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. boosted its position in shares of IDEAYA Biosciences by 0.9% during the third quarter. Alps Advisors Inc. now owns 42,479 shares of the company’s stock valued at $1,146,000 after buying an additional 368 shares during the last quarter. Amalgamated Bank boosted its position in shares of IDEAYA Biosciences by 6.4% during the third quarter. Amalgamated Bank now owns 7,205 shares of the company’s stock valued at $194,000 after buying an additional 433 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of IDEAYA Biosciences by 2.5% during the third quarter. Los Angeles Capital Management LLC now owns 18,802 shares of the company’s stock valued at $507,000 after buying an additional 456 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of IDEAYA Biosciences by 2.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,797 shares of the company’s stock valued at $669,000 after buying an additional 486 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of IDEAYA Biosciences by 4.0% during the third quarter. Arizona State Retirement System now owns 13,865 shares of the company’s stock valued at $374,000 after buying an additional 536 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors.

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.