IDEAYA Biosciences (NASDAQ:IDYA) Cut to “Hold” at Leerink Partnrs

Leerink Partnrs lowered shares of IDEAYA Biosciences (NASDAQ:IDYA) from a strong-buy rating to a hold rating in a research note released 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.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald started coverage on shares of IDEAYA Biosciences in a research report on Tuesday, October 15th. They set an “overweight” rating on the stock. Mizuho assumed coverage on shares of IDEAYA Biosciences in a report on Monday, July 8th. They issued an “outperform” rating and a $50.00 target price on the stock. Leerink Partners downgraded shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $41.00 to $27.00 in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a research report on Monday, November 4th. Finally, Stifel Nicolaus increased their price objective on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.91.

IDEAYA Biosciences Trading Up 4.3 %

IDYA stock opened at $31.28 on Tuesday. The firm has a 50-day moving average of $32.23 and a two-hundred day moving average of $36.70. IDEAYA Biosciences has a 12 month low of $27.52 and a 12 month high of $47.74. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -13.42 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating 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, equities analysts forecast that IDEAYA Biosciences will post -2.51 earnings per share for the current year.

Hedge Funds Weigh In On IDEAYA Biosciences

Institutional investors have recently bought and sold shares of the company. Entropy Technologies LP acquired a new stake in shares of IDEAYA Biosciences during the first quarter worth about $679,000. Nisa Investment Advisors LLC lifted its holdings in IDEAYA Biosciences by 38.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after buying an additional 927 shares in the last quarter. Swiss National Bank lifted its holdings in IDEAYA Biosciences by 30.9% during the 1st 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 in the last quarter. Quest Partners LLC purchased a new position in IDEAYA Biosciences in the 2nd quarter valued at approximately $41,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of 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 acquiring an additional 486,222 shares in the last quarter. 98.29% of the stock is 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.