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

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

A number of other equities research analysts have also recently commented on IDYA. JPMorgan Chase & Co. reduced their price objective on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. BTIG Research lifted their price target on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Citigroup lowered their price objective on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Stifel Nicolaus raised their price objective on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Wedbush reissued an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.08.

IDEAYA Biosciences Stock Down 1.4 %

NASDAQ:IDYA opened at $29.99 on Tuesday. The firm has a market capitalization of $2.53 billion, a P/E ratio of -12.87 and a beta of 0.86. IDEAYA Biosciences has a twelve month low of $27.52 and a twelve month high of $47.74. The company has a fifty day moving average of $32.57 and a 200-day moving average of $36.79.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same quarter last year, the business posted ($0.46) EPS. On average, analysts anticipate that IDEAYA Biosciences will post -2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its position in IDEAYA Biosciences by 13.6% in 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 purchasing an additional 486,222 shares during the last quarter. Sofinnova Investments Inc. grew its stake in IDEAYA Biosciences by 47.3% in the 2nd quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company’s stock valued at $40,430,000 after purchasing an additional 369,932 shares during the period. Janus Henderson Group PLC increased its position in shares of IDEAYA Biosciences by 7.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock valued at $167,104,000 after purchasing an additional 256,559 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of IDEAYA Biosciences during the 1st quarter valued at $11,244,000. Institutional investors own 98.29% of the company’s stock.

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.