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

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

A number of other research analysts have also recently weighed in on IDYA. BTIG Research lifted their price objective on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. UBS Group started coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They set a “buy” rating and a $50.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Finally, Cantor Fitzgerald began coverage on IDEAYA Biosciences in a report on Tuesday, October 15th. They issued an “overweight” rating on the stock. Two research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.08.

IDEAYA Biosciences Price Performance

Shares of NASDAQ:IDYA opened at $30.41 on Tuesday. The stock’s 50-day simple moving average is $32.57 and its two-hundred day simple moving average 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 announced its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same period in the previous year, the firm earned ($0.46) earnings per share. Equities analysts anticipate that IDEAYA Biosciences will post -2.51 earnings per share for the current year.

Institutional Trading of IDEAYA Biosciences

Large investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased 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 valued at $29,000 after purchasing an additional 800 shares during the last quarter. Covestor Ltd increased its position in shares of IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after purchasing an additional 922 shares during the last quarter. Quest Partners LLC bought a new position in shares of IDEAYA Biosciences during the 2nd quarter valued at approximately $41,000. US Bancorp DE increased its position in shares of IDEAYA Biosciences by 67.2% during the 3rd quarter. US Bancorp DE now owns 1,714 shares of the company’s stock valued at $54,000 after purchasing an additional 689 shares during the last quarter. Finally, Comerica Bank increased its position in shares of IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock valued at $66,000 after purchasing an additional 1,324 shares during the last quarter. Institutional investors own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

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.