IDEAYA Biosciences (NASDAQ:IDYA) Stock Price Target Cut by Royal Bank Of Canada

IDEAYA Biosciences (NASDAQ:IDYA) had its price target decreased by research analysts at Royal Bank Of Canada from $48.00 to $45.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s target price would indicate a potential upside of 41.18% from the stock’s previous close.

A number of other brokerages have also issued reports on IDYA. Truist Financial restated a “buy” rating and set a $57.00 target price (down from $59.00) on shares of IDEAYA Biosciences in a research report on Tuesday. Citizens Jmp reiterated a “market outperform” rating and issued a $42.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, September 1st. Wall Street Zen downgraded IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a research note on Monday, October 19th. Finally, Mizuho set a $44.00 price objective on IDEAYA Biosciences in a report on Thursday, October 29th. Thirteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $49.91.

IDEAYA Biosciences Stock Up 1.7%

Shares of IDEAYA Biosciences stock traded up $0.54 during trading on Wednesday, reaching $31.87. The company’s stock had a trading volume of 314,163 shares, compared to its average volume of 1,023,977. The business’s 50-day moving average price is $36.91 and its 200-day moving average price is $34.05. IDEAYA Biosciences has a 52 week low of $26.81 and a 52 week high of $42.68. The firm has a market cap of $2.80 billion, a PE ratio of -16.44 and a beta of 0.08.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $10.24 million for the quarter, compared to the consensus estimate of $7.58 million. During the same period in the prior year, the business posted $1.33 earnings per share. IDEAYA Biosciences’s revenue was up 14.6% compared to the same quarter last year. Equities analysts predict that IDEAYA Biosciences will post -4.52 earnings per share for the current year.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro Hata sold 26,338 shares of IDEAYA Biosciences stock in a transaction 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 transaction, the chief executive officer owned 690,695 shares in the company, valued at approximately $25,838,899.95. This trade represents a 3.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Man Group plc bought a new position in IDEAYA Biosciences in the 2nd quarter valued at approximately $9,149,000. Bank of America Corp DE acquired a new position in shares of IDEAYA Biosciences during the second quarter worth $38,244,000. Walleye Capital LLC acquired a new position in shares of IDEAYA Biosciences during the second quarter worth $14,393,000. Great Lakes Advisors LLC bought a new position in shares of IDEAYA Biosciences in the 2nd quarter valued at $3,270,000. Finally, BlackRock Inc. bought a new position in shares of IDEAYA Biosciences in the 2nd quarter valued at $331,452,000. Institutional investors own 98.29% of the company’s stock.

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.