IDEAYA Biosciences (NASDAQ:IDYA) Stock Rated Buy in New Coverage at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report report published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $48.00 target price on the stock.

Several other brokerages have also recently issued reports on IDYA. Wall Street Zen cut IDEAYA Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Citizens Jmp reiterated a “market outperform” rating and issued a $42.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, September 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Friday, July 17th. Royal Bank Of Canada dropped their price target on IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Finally, Guggenheim raised their price target on IDEAYA Biosciences from $54.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Fifteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.36.

IDEAYA Biosciences Trading Down 3.0%

Shares of NASDAQ IDYA opened at $32.85 on Wednesday. The firm’s fifty day moving average is $37.95 and its two-hundred day moving average is $34.41. IDEAYA Biosciences has a 52-week low of $26.81 and a 52-week high of $42.68.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.06) by ($0.16). IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%. The company had revenue of $8.86 million during the quarter, compared to analysts’ expectations of $8.02 million. During the same quarter in the previous year, the firm earned ($0.88) EPS. The firm’s revenue for the quarter was up 8800.0% compared to the same quarter last year. On average, research analysts forecast that IDEAYA Biosciences will post -4.46 earnings per share for the current year.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro Hata sold 26,338 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $37.41, for a total transaction of $985,304.58. Following the completion of the transaction, the chief executive officer owned 690,695 shares in the company, valued at $25,838,899.95. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.70% of the stock is currently owned by insiders.

Institutional Trading of IDEAYA Biosciences

A number of large investors have recently made changes to their positions in the business. Versant Capital Management Inc raised its position in shares of IDEAYA Biosciences by 26.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,825 shares of the company’s stock valued at $105,000 after buying an additional 596 shares in the last quarter. Hsbc Holdings PLC grew its position in IDEAYA Biosciences by 3.9% in the first quarter. Hsbc Holdings PLC now owns 19,258 shares of the company’s stock worth $645,000 after acquiring an additional 725 shares in the last quarter. GAMMA Investing LLC grew its position in IDEAYA Biosciences by 79.0% in the third quarter. GAMMA Investing LLC now owns 2,315 shares of the company’s stock worth $89,000 after acquiring an additional 1,022 shares in the last quarter. Quantbot Technologies LP purchased a new position in IDEAYA Biosciences in the second quarter worth about $43,000. Finally, Nykredit A S bought a new stake in IDEAYA Biosciences during the second quarter worth approximately $76,000. 98.29% of the stock is currently owned by institutional investors.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company uses insights from tumor biology, cancer genetics and synthetic lethality to identify treatments designed to target specific molecular alterations in tumors.

Its development pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily in genetically defined cancers, including GNAQ- or GNA11-mutated uveal melanoma.