IDEAYA Biosciences (NASDAQ:IDYA) PT Raised to $69.00 at JPMorgan Chase & Co.

IDEAYA Biosciences (NASDAQ:IDYA) had its price objective hoisted by JPMorgan Chase & Co. from $65.00 to $69.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 72.50% from the company’s previous close.

A number of other equities analysts have also recently commented on IDYA. The Goldman Sachs Group reduced their target price on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating for the company in a report on Monday, May 13th. Mizuho began coverage on IDEAYA Biosciences in a report on Monday, July 8th. They set an “outperform” rating and a $50.00 target price for the company. BTIG Research increased their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Wedbush reissued an “outperform” rating and set a $56.00 target price (up previously from $52.00) on shares of IDEAYA Biosciences in a report on Monday, July 8th. Finally, Royal Bank of Canada increased their price target on IDEAYA Biosciences from $53.00 to $61.00 and gave the company an “outperform” rating in a report on Thursday. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $53.08.

IDEAYA Biosciences Trading Up 1.0 %

NASDAQ IDYA opened at $40.00 on Friday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -19.90 and a beta of 0.86. IDEAYA Biosciences has a twelve month low of $20.90 and a twelve month high of $47.74. The stock has a 50-day moving average of $38.29 and a 200 day moving average of $40.78.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. The company’s quarterly revenue was down 100.0% on a year-over-year basis. During the same period last year, the firm posted ($0.49) earnings per share. Equities analysts predict that IDEAYA Biosciences will post -2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yujiro S. Hata sold 56,711 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares in the company, valued at $28,206,878.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Yujiro S. Hata sold 56,711 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares in the company, valued at $28,206,878.07. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Yujiro S. Hata sold 34,433 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total value of $1,439,643.73. Following the transaction, the chief executive officer now owns 677,887 shares of the company’s stock, valued at $28,342,455.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,644 shares of company stock worth $4,832,228. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. boosted its holdings in IDEAYA Biosciences by 14.8% in the fourth quarter. Federated Hermes Inc. now owns 3,883,775 shares of the company’s stock valued at $138,185,000 after purchasing an additional 500,046 shares during the period. Victory Capital Management Inc. acquired a new stake in IDEAYA Biosciences in the fourth quarter valued at $12,328,000. Charles Schwab Investment Management Inc. raised its stake in IDEAYA Biosciences by 13.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 496,456 shares of the company’s stock valued at $17,664,000 after buying an additional 59,100 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in IDEAYA Biosciences by 93.2% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 61,226 shares of the company’s stock valued at $2,178,000 after buying an additional 29,536 shares in the last quarter. Finally, First Light Asset Management LLC acquired a new stake in IDEAYA Biosciences in the fourth quarter valued at $12,299,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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.