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

Leerink Partnrs downgraded shares of IDEAYA Biosciences (NASDAQ:IDYA) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports. Leerink Partnrs also issued estimates for IDEAYA Biosciences’ Q4 2024 earnings at ($0.72) EPS, FY2024 earnings at ($2.53) EPS, FY2025 earnings at ($2.80) EPS, FY2026 earnings at ($2.88) EPS, FY2027 earnings at ($2.77) EPS and FY2028 earnings at ($2.08) EPS.

Several other equities research analysts have also recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Monday. Mizuho started coverage on shares of IDEAYA Biosciences in a report on Monday, July 8th. They set an “outperform” rating and a $50.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. JPMorgan Chase & Co. reduced their price target 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. Finally, Oppenheimer reiterated an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.08.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA opened at $29.99 on Tuesday. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -12.87 and a beta of 0.86. The stock’s fifty day moving average price is $32.57 and its two-hundred day moving average price is $36.79. 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 results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period last year, the business posted ($0.46) EPS. On average, equities analysts predict that IDEAYA Biosciences will post -2.51 EPS for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of IDEAYA Biosciences during the first quarter worth $101,000. Oppenheimer & Co. Inc. acquired a new stake in shares of IDEAYA Biosciences in the 1st quarter valued at about $217,000. Oppenheimer Asset Management Inc. bought a new stake in shares of IDEAYA Biosciences in the first quarter valued at about $459,000. Swiss National Bank boosted its position in shares of IDEAYA Biosciences by 30.9% during the first quarter. Swiss National Bank now owns 111,400 shares of the company’s stock worth $4,888,000 after buying an additional 26,300 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of IDEAYA Biosciences by 21.1% during the first quarter. ProShare Advisors LLC now owns 17,047 shares of the company’s stock worth $748,000 after buying an additional 2,966 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.