IDEAYA Biosciences (NASDAQ:IDYA) PT Lowered to $58.00 at Citigroup

IDEAYA Biosciences (NASDAQ:IDYA) had its target price cut by Citigroup from $60.00 to $58.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on the stock. Oppenheimer decreased their target price on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an outperform rating on the stock in a report on Wednesday, August 7th. Mizuho initiated coverage on IDEAYA Biosciences in a report on Monday, July 8th. They issued an outperform rating and a $50.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on IDEAYA Biosciences from $69.00 to $66.00 and set an overweight rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus restated a buy rating and set a $63.00 price objective on shares of IDEAYA Biosciences in a research report on Monday, July 8th. Finally, The Goldman Sachs Group decreased their target price on IDEAYA Biosciences from $53.00 to $46.00 and set a buy rating on the stock in a research report on Monday, May 13th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IDEAYA Biosciences currently has an average rating of Buy and a consensus target price of $55.70.

IDEAYA Biosciences Trading Down 1.1 %

NASDAQ IDYA opened at $39.17 on Tuesday. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -19.49 and a beta of 0.87. The company has a 50 day moving average of $38.66 and a 200-day moving average of $40.74. IDEAYA Biosciences has a 1-year low of $23.41 and a 1-year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. During the same period in the prior year, the company earned ($0.50) EPS. On average, equities research analysts forecast that IDEAYA Biosciences will post -2.22 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of IDEAYA Biosciences by 19.6% during the first quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after acquiring an additional 679,985 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in IDEAYA Biosciences by 13.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock worth $177,825,000 after buying an additional 486,222 shares during the period. Janus Henderson Group PLC grew its position in shares of IDEAYA Biosciences by 7.2% in the 1st quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock valued at $167,104,000 after buying an additional 256,559 shares during the last quarter. Capital Research Global Investors increased its stake in shares of IDEAYA Biosciences by 43.6% in the fourth quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock valued at $70,337,000 after buying an additional 600,000 shares during the period. Finally, Logos Global Management LP raised its position in shares of IDEAYA Biosciences by 13.3% during the second quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock worth $59,687,000 after acquiring an additional 200,000 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.