IDEAYA Biosciences (NASDAQ:IDYA) Downgraded by Leerink Partnrs to Hold

IDEAYA Biosciences (NASDAQ:IDYA) was downgraded by equities researchers at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. Citigroup cut their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Leerink Partners cut IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $41.00 to $27.00 in a research report on Tuesday. Cantor Fitzgerald assumed coverage on shares of IDEAYA Biosciences in a research report on Tuesday, October 15th. They set an “overweight” rating for the company. UBS Group started coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $53.08.

IDEAYA Biosciences Stock Performance

IDYA opened at $29.58 on Tuesday. The company’s 50-day simple moving average is $32.76 and its two-hundred day simple moving average is $36.84. The stock has a market capitalization of $2.50 billion, a P/E ratio of -12.70 and a beta of 0.86. IDEAYA Biosciences has a 52-week low of $27.52 and a 52-week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data 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 quarter in the prior year, the company posted ($0.46) EPS. Research analysts forecast that IDEAYA Biosciences will post -2.47 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of hedge funds have recently bought and sold shares of IDYA. GSA Capital Partners LLP bought a new stake in shares of IDEAYA Biosciences in the 3rd quarter worth about $477,000. Entropy Technologies LP bought a new stake in IDEAYA Biosciences during the third quarter worth approximately $275,000. Covestor Ltd raised its position in IDEAYA Biosciences by 23,050.0% during the third quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after purchasing an additional 922 shares during the period. Assetmark Inc. lifted its stake in shares of IDEAYA Biosciences by 11.3% in the 3rd quarter. Assetmark Inc. now owns 44,185 shares of the company’s stock valued at $1,400,000 after purchasing an additional 4,481 shares during the last quarter. Finally, General American Investors Co. Inc. bought a new stake in shares of IDEAYA Biosciences in the 3rd quarter valued at approximately $2,851,000. Hedge funds and other institutional investors own 98.29% of the company’s stock.

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.