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

Leerink Partners downgraded shares of IDEAYA Biosciences (NASDAQ:IDYA) from an outperform rating to a market perform rating in a research note released on Tuesday morning, MarketBeat Ratings reports. They currently have $27.00 target price on the stock, down from their previous target price of $41.00.

A number of other analysts also recently issued reports on the company. 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 for the company. Mizuho started coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They issued an “outperform” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Wedbush reiterated an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a report on Monday. Finally, Oppenheimer reissued an “outperform” rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $53.08.

IDEAYA Biosciences Trading Down 1.4 %

IDEAYA Biosciences stock opened at $29.58 on Tuesday. The stock has a market cap of $2.50 billion, a P/E ratio of -13.51 and a beta of 0.86. The company has a 50-day moving average price of $32.76 and a 200 day moving average price of $36.84. IDEAYA Biosciences has a 12-month low of $27.52 and a 12-month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released 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 quarter in the previous year, the business posted ($0.46) EPS. As a group, analysts forecast that IDEAYA Biosciences will post -2.47 EPS for the current year.

Institutional Investors Weigh In On IDEAYA Biosciences

Large investors have recently bought and sold shares of the stock. Jennison Associates LLC acquired a new position in shares of IDEAYA Biosciences during the first quarter worth about $11,244,000. SG Americas Securities LLC purchased a new stake in shares of IDEAYA Biosciences in the 1st quarter valued at approximately $101,000. Oppenheimer & Co. Inc. purchased a new stake in shares of IDEAYA Biosciences in the 1st quarter valued at approximately $217,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of IDEAYA Biosciences in the 1st quarter valued at $459,000. Finally, Swiss National Bank lifted its position in shares of 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 purchasing an additional 26,300 shares during the last quarter. Hedge funds and other 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.