BidaskClub Downgrades IDEAYA Biosciences (NASDAQ:IDYA) to Hold

IDEAYA Biosciences (NASDAQ:IDYA) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday, BidAskClub reports.

A number of other analysts have also commented on the company. Zacks Investment Research raised IDEAYA Biosciences from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, July 15th. HC Wainwright lifted their price target on IDEAYA Biosciences from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. raised IDEAYA Biosciences from a “neutral” rating to an “overweight” rating and set a $28.00 price target on the stock in a research note on Monday, July 13th. ValuEngine lowered IDEAYA Biosciences from a “hold” rating to a “sell” rating in a research note on Thursday, July 23rd. Finally, Oppenheimer lifted their price target on IDEAYA Biosciences from $17.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $22.17.

NASDAQ:IDYA opened at $12.61 on Friday. The stock’s 50-day simple moving average is $13.05 and its 200 day simple moving average is $8.27. The firm has a market capitalization of $257.23 million, a PE ratio of -4.26 and a beta of 2.94. The company has a quick ratio of 12.18, a current ratio of 12.18 and a debt-to-equity ratio of 0.06. IDEAYA Biosciences has a twelve month low of $2.95 and a twelve month high of $19.97.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.02). On average, analysts anticipate that IDEAYA Biosciences will post 0.04 EPS for the current fiscal year.

In other IDEAYA Biosciences news, insider Value Fund L. P. Biotechnology bought 117,996 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $14.31 per share, for a total transaction of $1,688,522.76. Also, CFO Paul A. Stone sold 3,100 shares of IDEAYA Biosciences stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.97, for a total value of $55,707.00. Following the completion of the sale, the chief financial officer now owns 18,100 shares of the company’s stock, valued at $325,257. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 238,523 shares of company stock valued at $3,411,121 and have sold 13,273 shares valued at $190,783. 20.70% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Strs Ohio bought a new stake in IDEAYA Biosciences in the second quarter worth approximately $44,000. UBS Group AG increased its holdings in IDEAYA Biosciences by 443.4% in the second quarter. UBS Group AG now owns 3,815 shares of the company’s stock worth $54,000 after purchasing an additional 3,113 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in IDEAYA Biosciences by 234.0% in the first quarter. BlackRock Inc. now owns 38,218 shares of the company’s stock worth $158,000 after purchasing an additional 26,774 shares in the last quarter. Institutional investors and hedge funds own 49.87% of the company’s stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc, an oncology-focused precision medicine company, focuses on the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company's product candidate in clinical development is IDE196, 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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