IDEAYA Biosciences’ (IDYA) “Outperform” Rating Reiterated at Wedbush

IDEAYA Biosciences (NASDAQ:IDYA)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued on Friday,Benzinga reports. They currently have a $58.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 97.08% from the stock’s current price.

IDYA has been the subject of several other research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on shares of IDEAYA Biosciences from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Citigroup reaffirmed a “market outperform” rating on shares of IDEAYA Biosciences in a research note on Tuesday, June 2nd. Mizuho dropped their price target on IDEAYA Biosciences from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their price target on IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Fifteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and an average price target of $50.69.

IDEAYA Biosciences Trading Up 2.0%

Shares of IDYA traded up $0.59 during trading hours on Friday, hitting $29.43. 66,410 shares of the stock traded hands, compared to its average volume of 1,087,787. IDEAYA Biosciences has a 1-year low of $20.50 and a 1-year high of $39.28. The firm has a market capitalization of $2.59 billion, a PE ratio of -18.41 and a beta of -0.05. The business has a fifty day moving average of $29.96 and a 200-day moving average of $32.51.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, May 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The company had revenue of $6.56 million during the quarter, compared to analyst estimates of $5.04 million. The business’s quarterly revenue was down 39.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.82) earnings per share. As a group, equities research analysts expect that IDEAYA Biosciences will post -4.27 earnings per share for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors have recently made changes to their positions in the business. Seven Fleet Capital Management LP bought a new stake in shares of IDEAYA Biosciences in the first quarter worth $2,875,000. Bank of America Corp DE grew its position in IDEAYA Biosciences by 4.3% in the first quarter. Bank of America Corp DE now owns 942,091 shares of the company’s stock valued at $31,390,000 after purchasing an additional 39,118 shares in the last quarter. Janus Henderson Group PLC increased its stake 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 valued at $242,023,000 after buying an additional 78,797 shares during the last quarter. California State Teachers Retirement System increased its stake in IDEAYA Biosciences by 27.3% in the 1st quarter. California State Teachers Retirement System now owns 96,655 shares of the company’s stock valued at $3,221,000 after buying an additional 20,710 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in IDEAYA Biosciences by 4.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 72,906 shares of the company’s stock worth $2,429,000 after buying an additional 2,997 shares in the last quarter. Institutional investors own 98.29% of the company’s stock.

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.