IDEAYA Biosciences (NASDAQ:IDYA) Now Covered by Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of IDEAYA Biosciences (NASDAQ:IDYA) in a research report released on Wednesday, Analyst Price Targets reports. The firm issued a hold rating and a $27.00 price objective on the stock.

A number of other research analysts have also weighed in on IDYA. HC Wainwright reduced their target price on IDEAYA Biosciences from $34.00 to $30.00 and set a buy rating for the company in a report on Wednesday, August 11th. Zacks Investment Research raised IDEAYA Biosciences from a sell rating to a hold rating in a report on Tuesday, August 17th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, IDEAYA Biosciences presently has a consensus rating of Buy and a consensus price target of $30.80.

Shares of IDEAYA Biosciences stock opened at $25.38 on Wednesday. IDEAYA Biosciences has a 52-week low of $11.20 and a 52-week high of $28.00. The stock’s 50-day simple moving average is $24.05 and its 200 day simple moving average is $21.96. The stock has a market capitalization of $974.67 million, a P/E ratio of -26.44 and a beta of 1.91.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Monday, August 9th. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.26). The company had revenue of $8.76 million for the quarter, compared to analysts’ expectations of $10.04 million. IDEAYA Biosciences had a negative net margin of 84.49% and a negative return on equity of 13.85%. Research analysts predict that IDEAYA Biosciences will post -0.94 earnings per share for the current fiscal year.

In other IDEAYA Biosciences news, SVP Michael P. Dillon sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $22.24, for a total value of $33,360.00. Following the completion of the sale, the senior vice president now owns 7,610 shares of the company’s stock, valued at $169,246.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul A. Stone sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $27.42, for a total value of $68,550.00. Following the completion of the sale, the chief financial officer now directly owns 12,944 shares of the company’s stock, valued at approximately $354,924.48. The disclosure for this sale can be found here. Insiders have sold 35,616 shares of company stock valued at $871,765 in the last three months. 5.10% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Morgan Stanley lifted its position in IDEAYA Biosciences by 4,903.5% in the second quarter. Morgan Stanley now owns 11,558 shares of the company’s stock valued at $243,000 after purchasing an additional 11,327 shares during the last quarter. Wells Fargo & Company MN lifted its position in IDEAYA Biosciences by 25.7% in the second quarter. Wells Fargo & Company MN now owns 25,215 shares of the company’s stock valued at $529,000 after purchasing an additional 5,155 shares during the last quarter. Sphera Funds Management LTD. lifted its position in IDEAYA Biosciences by 65.8% in the second quarter. Sphera Funds Management LTD. now owns 334,794 shares of the company’s stock valued at $7,027,000 after purchasing an additional 132,810 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in IDEAYA Biosciences by 138,950.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 8,343 shares of the company’s stock valued at $175,000 after purchasing an additional 8,337 shares during the last quarter. Finally, Millennium Management LLC lifted its position in IDEAYA Biosciences by 23.3% in the second quarter. Millennium Management LLC now owns 123,397 shares of the company’s stock valued at $2,590,000 after purchasing an additional 23,285 shares during the last quarter. Hedge funds and other institutional investors own 64.06% of the company’s stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc engages in the research and development of oncology-focused precision medicine. The firm focuses on the targeted therapeutics for patients selected using molecular diagnostics. Its product candidate, IDE196, is a protein kinase C inhibitor for genetically-defined cancers having GNAQ or GNA11 gene mutations.

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Analyst Recommendations for IDEAYA Biosciences (NASDAQ:IDYA)

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