IDEAYA Biosciences (NASDAQ:IDYA) Downgraded to “Hold” Rating by Leerink Partnrs

IDEAYA Biosciences (NASDAQ:IDYA) was downgraded by stock analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

IDYA has been the topic of several other research reports. Lifesci Capital raised IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Wedbush restated an “outperform” rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a report on Monday. Citigroup dropped their target price 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 boosted their price target on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and a consensus price target of $53.08.

IDEAYA Biosciences Price Performance

Shares of NASDAQ IDYA opened at $29.58 on Tuesday. The company has a market cap of $2.50 billion, a P/E ratio of -12.70 and a beta of 0.86. The firm has a 50-day simple moving average of $32.76 and a two-hundred day simple moving average of $36.84. IDEAYA Biosciences has a 1 year low of $27.52 and a 1 year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03. During the same period in the previous year, the business posted ($0.46) earnings per share. As a group, equities research analysts expect that IDEAYA Biosciences will post -2.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Entropy Technologies LP acquired a new position in IDEAYA Biosciences in the 1st quarter valued at about $679,000. Nisa Investment Advisors LLC grew its position in IDEAYA Biosciences by 38.4% in the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after acquiring an additional 927 shares during the period. Swiss National Bank raised its position in IDEAYA Biosciences by 30.9% in the first quarter. Swiss National Bank now owns 111,400 shares of the company’s stock valued at $4,888,000 after purchasing an additional 26,300 shares during the period. Quest Partners LLC acquired a new position in shares of IDEAYA Biosciences in the 2nd quarter valued at $41,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of IDEAYA Biosciences by 13.6% during the 1st 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 period. Institutional investors and hedge funds 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.