IDEAYA Biosciences (NASDAQ:IDYA) Cut to “Market Perform” at Leerink Partners

Leerink Partners cut shares of IDEAYA Biosciences (NASDAQ:IDYA) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. Leerink Partners currently has $27.00 target price on the stock, down from their prior target price of $41.00.

Other research analysts also recently issued research reports about the company. Citigroup lowered their target price on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Oppenheimer reissued an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Mizuho assumed coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 target price on the stock. UBS Group assumed coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, IDEAYA Biosciences currently has an average rating of “Moderate Buy” and an average price target of $53.08.

IDEAYA Biosciences Trading Down 1.4 %

NASDAQ IDYA opened at $29.99 on Tuesday. The firm’s 50 day simple moving average is $32.57 and its 200 day simple moving average is $36.79. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -12.87 and a beta of 0.86. IDEAYA Biosciences has a 1 year low of $27.52 and a 1 year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same period last year, the company posted ($0.46) earnings per share. On average, equities research analysts forecast that IDEAYA Biosciences will post -2.51 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in IDEAYA Biosciences by 19.6% in the first quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after acquiring an additional 679,985 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of IDEAYA Biosciences by 13.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock worth $177,825,000 after buying an additional 486,222 shares during the period. Janus Henderson Group PLC increased its position in shares of IDEAYA Biosciences by 7.2% during the first quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock worth $167,104,000 after buying an additional 256,559 shares during the period. Logos Global Management LP raised its stake in IDEAYA Biosciences by 13.3% during the second quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock worth $59,687,000 after buying an additional 200,000 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in IDEAYA Biosciences by 22.6% in the second quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock valued at $46,886,000 after buying an additional 246,010 shares during the period. 98.29% of the stock is owned by institutional investors and hedge funds.

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.