IDEAYA Biosciences (NASDAQ:IDYA) Given New $50.00 Price Target at Mizuho

IDEAYA Biosciences (NASDAQ:IDYA) had its target price reduced by Mizuho from $52.00 to $50.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also commented on IDYA. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Wednesday, February 18th. Royal Bank Of Canada boosted their price objective on shares of IDEAYA Biosciences from $49.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Truist Financial set a $65.00 price objective on shares of IDEAYA Biosciences in a research note on Monday, April 13th. UBS Group assumed coverage on IDEAYA Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Wedbush boosted their price target on IDEAYA Biosciences from $52.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Fifteen research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.69.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $28.24 on Thursday. The business has a 50-day moving average of $32.00 and a 200 day moving average of $32.96. IDEAYA Biosciences has a 1-year low of $16.84 and a 1-year high of $39.28. The stock has a market capitalization of $2.48 billion, a PE ratio of -17.65 and a beta of -0.04.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The business had revenue of $6.56 million during the quarter, compared to analyst estimates of $5.04 million. IDEAYA Biosciences’s revenue for the quarter was down 39.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.82) earnings per share. Analysts anticipate that IDEAYA Biosciences will post -4.15 EPS for the current year.

Insider Buying and Selling

In other IDEAYA Biosciences news, Director Jeffrey Stein bought 50,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were purchased at an average price of $32.96 per share, for a total transaction of $1,648,000.00. Following the acquisition, the director owned 54,281 shares in the company, valued at approximately $1,789,101.76. This represents a 1,167.95% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in IDEAYA Biosciences by 171.1% in the fourth quarter. Farther Finance Advisors LLC now owns 919 shares of the company’s stock worth $32,000 after purchasing an additional 580 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in IDEAYA Biosciences during the 3rd quarter valued at about $38,000. ANTIPODES PARTNERS Ltd boosted its stake in IDEAYA Biosciences by 49.4% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,150 shares of the company’s stock valued at $40,000 after purchasing an additional 380 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of IDEAYA Biosciences in the 3rd quarter worth $58,000. Finally, Global Retirement Partners LLC purchased a new position in shares of IDEAYA Biosciences in the fourth quarter worth $61,000. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile

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.