IDEAYA Biosciences (NASDAQ:IDYA) Now Covered by Analysts at Stifel Nicolaus

Stock analysts at Stifel Nicolaus initiated coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research note issued to investors on Wednesday, Benzinga reports. The firm set a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 40.11% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. Wedbush increased their price objective on shares of IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Truist Financial dropped their target price on shares of IDEAYA Biosciences from $63.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Royal Bank Of Canada decreased their price target on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 22nd. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.36.

IDEAYA Biosciences Stock Down 5.0%

Shares of IDEAYA Biosciences stock opened at $34.26 on Wednesday. The firm’s 50-day moving average price is $38.12 and its two-hundred day moving average price is $34.38. IDEAYA Biosciences has a 1-year low of $26.44 and a 1-year high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, August 4th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.16). The business had revenue of $8.86 million during the quarter, compared to analyst estimates of $8.02 million. IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%. The firm’s revenue was up 8800.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.88) earnings per share. Research analysts anticipate that IDEAYA Biosciences will post -4.38 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro Hata sold 26,338 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $37.41, for a total transaction of $985,304.58. Following the transaction, the chief executive officer owned 690,695 shares of the company’s stock, valued at $25,838,899.95. This represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.70% of the stock is currently owned by insiders.

Institutional Trading of IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in IDEAYA Biosciences in the second quarter valued at about $43,000. Nykredit A S bought a new position in IDEAYA Biosciences during the second quarter worth about $76,000. GAMMA Investing LLC boosted its holdings in IDEAYA Biosciences by 79.0% during the third quarter. GAMMA Investing LLC now owns 2,315 shares of the company’s stock worth $89,000 after buying an additional 1,022 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of IDEAYA Biosciences during the 1st quarter worth about $84,000. Finally, Versant Capital Management Inc grew its position in shares of IDEAYA Biosciences by 26.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,825 shares of the company’s stock worth $105,000 after buying an additional 596 shares during the period. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company uses insights from tumor biology, cancer genetics and synthetic lethality to identify treatments designed to target specific molecular alterations in tumors.

Its development pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily in genetically defined cancers, including GNAQ- or GNA11-mutated uveal melanoma.