Royal Bank Of Canada Issues Pessimistic Forecast for IDEAYA Biosciences (NASDAQ:IDYA) Stock Price

IDEAYA Biosciences (NASDAQ:IDYA) had its price target reduced by analysts at Royal Bank Of Canada from $48.00 to $45.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target suggests a potential upside of 41.18% from the stock’s current price.

IDYA has been the subject of a number of other reports. Guggenheim lowered their price objective on IDEAYA Biosciences from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday. Citigroup reiterated a “market outperform” rating on shares of IDEAYA Biosciences in a report on Monday, October 19th. Mizuho set a $44.00 price target on shares of IDEAYA Biosciences in a report on Thursday, October 29th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research report on Tuesday, September 22nd. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $42.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, September 1st. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, IDEAYA Biosciences presently has an average rating of “Moderate Buy” and an average target price of $49.91.

IDEAYA Biosciences Stock Up 1.7%

Shares of IDYA stock traded up $0.54 during trading hours on Wednesday, hitting $31.87. 314,163 shares of the company’s stock traded hands, compared to its average volume of 1,023,977. The stock’s 50 day simple moving average is $36.91 and its 200 day simple moving average is $34.05. The stock has a market cap of $2.80 billion, a PE ratio of -16.44 and a beta of 0.08. IDEAYA Biosciences has a 12 month low of $26.81 and a 12 month high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.18) by ($0.04). The business had revenue of $10.24 million during the quarter, compared to the consensus estimate of $7.58 million. IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. As a group, equities research analysts expect that IDEAYA Biosciences will post -4.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other IDEAYA Biosciences news, CEO Yujiro Hata sold 26,338 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $37.41, for a total value of $985,304.58. Following the transaction, the chief executive officer directly owned 690,695 shares of the company’s stock, valued at approximately $25,838,899.95. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.70% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

Several hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC boosted its stake in IDEAYA Biosciences by 20.5% during the third quarter. Sterling Capital Management LLC now owns 1,873 shares of the company’s stock worth $72,000 after acquiring an additional 319 shares in the last quarter. Covestor Ltd raised its holdings in shares of IDEAYA Biosciences by 21.1% during the third quarter. Covestor Ltd now owns 3,178 shares of the company’s stock valued at $122,000 after purchasing an additional 554 shares during the period. Versant Capital Management Inc raised its holdings in shares of IDEAYA Biosciences by 26.7% during the second quarter. Versant Capital Management Inc now owns 2,825 shares of the company’s stock valued at $105,000 after purchasing an additional 596 shares during the period. Hsbc Holdings PLC boosted its position in shares of IDEAYA Biosciences by 3.9% during the 1st quarter. Hsbc Holdings PLC now owns 19,258 shares of the company’s stock worth $645,000 after purchasing an additional 725 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of IDEAYA Biosciences by 6.3% during the 3rd quarter. ProShare Advisors LLC now owns 14,740 shares of the company’s stock worth $566,000 after purchasing an additional 876 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

Trending Headlines about IDEAYA Biosciences

Here are the key news stories impacting IDEAYA Biosciences this week:

• Positive Sentiment: Wedbush raised its price target to $63 from $60 and reiterated an “outperform” rating, implying substantial upside from the cited $32.11 share price. Wedbush ratings
• Positive Sentiment: IDEAYA reported Q3 revenue of $10.24 million, above the $7.58 million estimate and up 14.6% year over year. Its business update also highlighted completed NDA submission for darovasertib plus crizotinib in metastatic uveal melanoma, encouraging IDE849 trial data, and $1.15 billion in cash and securities with runway into 2030. Q3 results and business update
• Neutral Sentiment: The company announced it will participate in investor-relations events in November; the announcement itself did not include new financial or clinical results. Investor-relations events announcement
• Negative Sentiment: Truist lowered its price target to $57, a less favorable analyst update even though the new target remains above the cited share price. Truist price-target change
• Negative Sentiment: IDEAYA posted a Q3 loss of $1.22 per share, narrowly worse than the $1.18 consensus estimate cited in the supplied results. The company continues to report substantial operating losses, underscoring its reliance on pipeline progress and future commercialization. Q3 results and business update

About IDEAYA Biosciences

IDEAYA Biosciences, Inc (NASDAQ:IDYA) is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company’s pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.