IDEAYA Biosciences (NASDAQ:IDYA) Earns Outperform Rating from Analysts at SVB Leerink

Posted by Defense World Staff on Aug 12th, 2023

SVB Leerink assumed coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA – Free Report) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage issued an outperform rating and a $33.00 price objective on the stock.

A number of other analysts have also commented on the company. SVB Securities initiated coverage on IDEAYA Biosciences in a report on Tuesday. They issued an outperform rating and a $33.00 target price for the company. Stifel Nicolaus raised IDEAYA Biosciences from a hold rating to a buy rating and lifted their price objective for the stock from $18.00 to $24.00 in a report on Monday, April 24th. TheStreet raised IDEAYA Biosciences from a d+ rating to a c rating in a report on Monday, May 15th. Guggenheim lifted their price objective on IDEAYA Biosciences from $32.00 to $40.00 in a report on Monday, April 24th. Finally, Wedbush lifted their price objective on IDEAYA Biosciences from $30.00 to $35.00 in a report on Monday, April 24th. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $31.42.

Check Out Our Latest Report on IDEAYA Biosciences

IDEAYA Biosciences Trading Down 1.5 %

IDEAYA Biosciences stock opened at $25.11 on Tuesday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -16.52 and a beta of 0.81. The stock has a fifty day simple moving average of $23.30 and a two-hundred day simple moving average of $19.48. IDEAYA Biosciences has a 12 month low of $9.00 and a 12 month high of $26.35.

IDEAYA Biosciences (NASDAQ:IDYA – Get Free Report) last posted its earnings results on Thursday, August 10th. The company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.05. The business had revenue of $3.50 million during the quarter, compared to analyst estimates of $4.89 million. IDEAYA Biosciences had a negative return on equity of 20.67% and a negative net margin of 143.90%. The company’s revenue was down 55.7% on a year-over-year basis. On average, equities research analysts forecast that IDEAYA Biosciences will post -2.05 EPS for the current fiscal year.

Insider Activity at IDEAYA Biosciences

In related news, insider Jason Throne sold 5,000 shares of IDEAYA Biosciences stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.09, for a total transaction of $125,450.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jason Throne sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.09, for a total value of $125,450.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul A. Stone sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $25.05, for a total value of $62,625.00. Following the completion of the transaction, the chief financial officer now owns 19,303 shares in the company, valued at $483,540.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,917 shares of company stock worth $427,666. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On IDEAYA Biosciences

Large investors have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new position in shares of IDEAYA Biosciences in the fourth quarter valued at about $49,000. Metropolitan Life Insurance Co. NY lifted its position in shares of IDEAYA Biosciences by 39.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,743 shares of the company’s stock valued at $50,000 after acquiring an additional 774 shares in the last quarter. Metropolitan Life Insurance Co NY increased its holdings in shares of IDEAYA Biosciences by 39.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,743 shares of the company’s stock worth $50,000 after purchasing an additional 774 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of IDEAYA Biosciences by 66.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,847 shares of the company’s stock worth $39,000 after purchasing an additional 1,136 shares during the last quarter. Finally, Point72 Hong Kong Ltd increased its holdings in shares of IDEAYA Biosciences by 363.7% in the first quarter. Point72 Hong Kong Ltd now owns 3,376 shares of the company’s stock worth $38,000 after purchasing an additional 2,648 shares during the last quarter. 83.57% of the stock is currently owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile

(Get Free Report)

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, focuses on the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company's lead product candidates include IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase II clinical trial for patients with solid tumors having methylthioadenosine phosphorylase gene deletions; and IDE196, a protein kinase C inhibitor that is in Phase I/II clinical trial for genetically defined cancers having GNAQ or GNA11 gene mutations.