IDEAYA Biosciences (NASDAQ:IDYA) Downgraded to Market Perform Rating by Leerink Partners

IDEAYA Biosciences (NASDAQ:IDYA) was downgraded by equities researchers at Leerink Partners from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a $27.00 price target on the stock, down from their prior price target of $41.00. Leerink Partners’ target price points to a potential downside of 11.21% from the stock’s previous close.

A number of other brokerages also recently issued reports on IDYA. Mizuho began coverage on IDEAYA Biosciences in a report on Monday, July 8th. They set an “outperform” rating and a $50.00 price target for the company. BTIG Research lifted their price target on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Cantor Fitzgerald initiated coverage on IDEAYA Biosciences in a report on Tuesday, October 15th. They set an “overweight” rating for the company. Finally, Stifel Nicolaus boosted their target price on IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.08.

IDEAYA Biosciences Price Performance

IDYA opened at $30.41 on Tuesday. IDEAYA Biosciences has a 12 month low of $27.52 and a 12 month high of $47.74. The business has a fifty day moving average price of $32.57 and a 200 day moving average price of $36.79.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same period last year, the firm earned ($0.46) EPS. Research analysts anticipate that IDEAYA Biosciences will post -2.51 EPS for the current year.

Institutional Trading of IDEAYA Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 800 shares during the period. Covestor Ltd increased its position in IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after purchasing an additional 922 shares during the period. Quest Partners LLC acquired a new position in IDEAYA Biosciences during the 2nd quarter worth approximately $41,000. US Bancorp DE increased its position in IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after purchasing an additional 689 shares during the period. Finally, Comerica Bank increased its position in IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after purchasing an additional 1,324 shares during the period. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.