IDEAYA Biosciences (NASDAQ:IDYA) Rating Lowered to Market Perform at Leerink Partners

Leerink Partners lowered shares of IDEAYA Biosciences (NASDAQ:IDYA - Free Report) from an outperform rating to a market perform rating in a report released on Tuesday, MarketBeat reports. The firm currently has $27.00 price target on the stock, down from their previous price target of $41.00.

A number of other analysts have also recently weighed in on the stock. Cantor Fitzgerald began coverage on shares of IDEAYA Biosciences in a research note on Tuesday, October 15th. They set an "overweight" rating on the stock. Wedbush restated an "outperform" rating and issued a $52.00 price target on shares of IDEAYA Biosciences in a research report on Monday. Oppenheimer restated an "outperform" rating and set a $53.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. JPMorgan Chase & Co. dropped their price target on IDEAYA Biosciences from $69.00 to $66.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Finally, BTIG Research boosted their price objective on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $53.08.

IDEAYA Biosciences Trading Down 2.6 %

NASDAQ:IDYA traded down $0.77 on Tuesday, hitting $29.23. 843,654 shares of the stock were exchanged, compared to its average volume of 850,076. The stock has a market cap of $2.47 billion, a PE ratio of -13.70 and a beta of 0.86. The stock has a fifty day moving average of $32.95 and a 200-day moving average of $36.89. IDEAYA Biosciences has a fifty-two week low of $27.52 and a fifty-two week high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued 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 posted ($0.46) earnings per share. As a group, analysts predict that IDEAYA Biosciences will post -2.47 earnings per share for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. grew its position in shares of IDEAYA Biosciences by 5.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company's stock worth $288,000 after buying an additional 332 shares in the last quarter. Amalgamated Bank lifted its position in IDEAYA Biosciences by 22.9% in the 3rd quarter. Amalgamated Bank now owns 2,840 shares of the company's stock valued at $90,000 after purchasing an additional 530 shares during the last quarter. US Bancorp DE boosted its position in shares of IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company's stock worth $54,000 after buying an additional 689 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of IDEAYA Biosciences by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company's stock worth $94,000 after purchasing an additional 796 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of 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 buying an additional 800 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

About IDEAYA Biosciences

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.