Wedbush Issues Positive Forecast for IDEAYA Biosciences (NASDAQ:IDYA) Stock Price

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective upped by Wedbush from $60.00 to $63.00 in a research report released on Wednesday morning,Benzinga reports. Wedbush currently has an outperform rating on the stock.

IDYA has been the topic of a number of other research reports. Citizens Jmp reaffirmed a “market outperform” rating and set a $42.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, September 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 22nd. Royal Bank Of Canada lowered their price target on shares of IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Truist Financial restated a “buy” rating and set a $57.00 price target (down from $59.00) on shares of IDEAYA Biosciences in a research report on Tuesday. Finally, Mizuho set a $44.00 price target on shares of IDEAYA Biosciences in a research report on Thursday, October 29th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.91.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $32.36 on Wednesday. IDEAYA Biosciences has a 52-week low of $26.81 and a 52-week high of $42.68. The business has a 50-day simple moving average of $36.71 and a 200-day simple moving average of $34.03.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, November 3rd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.18) by ($0.04). The company had revenue of $10.24 million for the quarter, compared to analyst estimates of $7.58 million. IDEAYA Biosciences had a negative return on equity of 40.15% and a negative net margin of 1,157.18%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same period last year, the business earned $1.33 earnings per share. As a group, sell-side analysts expect that IDEAYA Biosciences will post -4.52 EPS for the current year.

Insider Buying and Selling

In other IDEAYA Biosciences news, CEO Yujiro Hata sold 26,338 shares of the firm’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 sale, the chief executive officer directly owned 690,695 shares of the company’s stock, valued at approximately $25,838,899.95. This trade represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new stake in shares of IDEAYA Biosciences in the second quarter valued at about $43,000. Sterling Capital Management LLC raised its position in shares of IDEAYA Biosciences by 20.5% during the 3rd quarter. Sterling Capital Management LLC now owns 1,873 shares of the company’s stock worth $72,000 after purchasing an additional 319 shares during the last quarter. Nykredit A S acquired a new position in shares of IDEAYA Biosciences during the 2nd quarter worth about $76,000. GAMMA Investing LLC raised its position in shares of IDEAYA Biosciences by 79.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,315 shares of the company’s stock worth $89,000 after purchasing an additional 1,022 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in IDEAYA Biosciences in the 1st quarter valued at about $84,000. 98.29% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about IDEAYA Biosciences

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

• Positive Sentiment: IDEAYA said it completed its NDA submission for darovasertib plus crizotinib in metastatic uveal melanoma and highlighted encouraging data for IDE849 in relapsed small-cell lung cancer. It ended September with $1.15 billion in cash and reiterated runway into 2030, supporting development plans. Third-quarter results and business update
• Positive Sentiment: Wedbush raised its price target to $63 from $60 and maintained an “outperform” rating, signaling continued confidence in the shares. Wedbush analyst ratings
• Neutral Sentiment: Third-quarter revenue was $10.24 million, above estimates of about $7.6 million and up 14.6% year over year. The reported loss was $1.22 per share; analyst estimates cited in the reports ranged from a $1.18 to $1.26 loss, making the earnings comparison mixed. Third-quarter results
• Neutral Sentiment: The company plans to participate in investor-relations events in November; the announcement itself did not provide a material new financial or clinical update. Investor-relations events announcement
• Negative Sentiment: Royal Bank of Canada cut its target to $45 from $48 while keeping “outperform,” and Guggenheim lowered its target to $52 from $57 while retaining “buy.” The lower targets may temper sentiment, although both firms kept favorable ratings. Analyst price-target coverage

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.