Leerink Partnrs Downgrades IDEAYA Biosciences (NASDAQ:IDYA) to Hold

Leerink Partnrs cut shares of IDEAYA Biosciences (NASDAQ:IDYA - Free Report) from a strong-buy rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

Several other research firms also recently commented on IDYA. Citigroup reduced their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a "buy" rating on the stock in a report on Tuesday, August 27th. Wedbush reaffirmed an "outperform" rating and set a $52.00 target price on shares of IDEAYA Biosciences in a research report on Monday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th. BTIG Research increased their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a "buy" rating in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. dropped their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.08.

IDEAYA Biosciences Stock Performance

IDYA traded up $0.83 during trading on Tuesday, hitting $30.41. 1,166,378 shares of the stock were exchanged, compared to its average volume of 852,828. The firm has a 50 day simple moving average of $32.57 and a 200 day simple moving average of $36.79. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -13.05 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 - Get Free Report) last released its quarterly earnings data 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 in the previous year, the company earned ($0.46) EPS. As a group, equities analysts anticipate that IDEAYA Biosciences will post -2.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of institutional investors have recently modified their holdings of IDYA. Allworth Financial LP raised its stake in shares of IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company's stock valued at $29,000 after buying an additional 800 shares during the last quarter. Covestor Ltd increased its stake in shares of IDEAYA Biosciences by 23,050.0% in the 3rd quarter. Covestor Ltd now owns 926 shares of the company's stock valued at $29,000 after purchasing an additional 922 shares in the last quarter. Quest Partners LLC purchased a new position in shares of IDEAYA Biosciences in the 2nd quarter valued at about $41,000. US Bancorp DE increased its stake in shares of IDEAYA Biosciences by 67.2% in the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company's stock valued at $54,000 after purchasing an additional 689 shares in the last quarter. Finally, Comerica Bank increased its stake in shares of IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company's stock valued at $66,000 after purchasing an additional 1,324 shares in the last quarter. 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.