IDEAYA Biosciences (NASDAQ:IDYA) Given New $52.00 Price Target at Guggenheim

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective decreased by equities researchers at Guggenheim from $57.00 to $52.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim‘s price target would indicate a potential upside of 65.25% from the company’s previous close.

IDYA has been the topic of a number of other research reports. Royal Bank Of Canada cut their target price 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. Citizens Jmp reaffirmed a “market outperform” rating and issued a $42.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, September 1st. Stifel Nicolaus initiated coverage on IDEAYA Biosciences in a report on Wednesday, October 14th. They set a “buy” rating and a $48.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a report on Thursday, October 15th. Finally, Citigroup reiterated a “market outperform” rating on shares of IDEAYA Biosciences in a report on Monday, October 19th. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.18.

IDEAYA Biosciences Stock Up 0.4%

NASDAQ:IDYA traded up $0.14 during trading hours on Wednesday, reaching $31.47. 109,762 shares of the stock were exchanged, compared to its average volume of 1,022,769. The firm has a 50 day simple moving average of $36.91 and a 200-day simple moving average of $34.05. IDEAYA Biosciences has a 52 week low of $26.81 and a 52 week high of $42.68. The stock has a market capitalization of $2.76 billion, a P/E ratio of -16.26 and a beta of 0.08.

IDEAYA Biosciences (NASDAQ:IDYA) last issued 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). IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%. The firm had revenue of $10.24 million during the quarter, compared to analyst estimates of $7.58 million. During the same quarter in the previous year, the business posted $1.33 EPS. IDEAYA Biosciences’s revenue was up 14.6% compared to the same quarter last year. As a group, analysts expect that IDEAYA Biosciences will post -4.52 earnings per share for the current year.

Insider Activity at IDEAYA Biosciences

In other news, CEO Yujiro Hata sold 26,338 shares of the 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 completion of the sale, the chief executive officer directly owned 690,695 shares of the company’s stock, valued at approximately $25,838,899.95. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On IDEAYA Biosciences

Several large investors have recently bought and sold shares of the stock. Candriam S.C.A. grew its position in IDEAYA Biosciences by 1.7% in the 3rd quarter. Candriam S.C.A. now owns 1,110,424 shares of the company’s stock worth $42,818,000 after purchasing an additional 18,123 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of IDEAYA Biosciences by 44.0% during the 3rd quarter. Alps Advisors Inc. now owns 127,829 shares of the company’s stock worth $4,911,000 after purchasing an additional 39,060 shares during the period. Covestor Ltd raised its position in shares of IDEAYA Biosciences by 21.1% during the third quarter. Covestor Ltd now owns 3,178 shares of the company’s stock valued at $122,000 after buying an additional 554 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of IDEAYA Biosciences during the third quarter valued at about $189,000. Finally, ProShare Advisors LLC raised its position in shares of IDEAYA Biosciences by 6.3% during the third quarter. ProShare Advisors LLC now owns 14,740 shares of the company’s stock valued at $566,000 after buying an additional 876 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting IDEAYA Biosciences

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

• Positive Sentiment: Wedbush raised its price target to $63 from $60 and reiterated an “outperform” rating, implying substantial upside from the cited $32.11 share price. Wedbush ratings
• Positive Sentiment: IDEAYA reported Q3 revenue of $10.24 million, above the $7.58 million estimate and up 14.6% year over year. Its business update also highlighted completed NDA submission for darovasertib plus crizotinib in metastatic uveal melanoma, encouraging IDE849 trial data, and $1.15 billion in cash and securities with runway into 2030. Q3 results and business update
• Neutral Sentiment: The company announced it will participate in investor-relations events in November; the announcement itself did not include new financial or clinical results. Investor-relations events announcement
• Negative Sentiment: Truist lowered its price target to $57, a less favorable analyst update even though the new target remains above the cited share price. Truist price-target change
• Negative Sentiment: IDEAYA posted a Q3 loss of $1.22 per share, narrowly worse than the $1.18 consensus estimate cited in the supplied results. The company continues to report substantial operating losses, underscoring its reliance on pipeline progress and future commercialization. Q3 results and business update

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.