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

Leerink Partners lowered shares of IDEAYA Biosciences (NASDAQ:IDYA) from an outperform rating to a market perform rating in a report issued on Tuesday morning, MarketBeat Ratings reports. Leerink Partners currently has $27.00 target price on the stock, down from their previous target price of $41.00.

Several other equities research analysts also recently issued reports on IDYA. UBS Group initiated coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They set a “buy” rating and a $50.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a report on Monday, November 4th. 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. JPMorgan Chase & Co. cut their price objective on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.91.

IDEAYA Biosciences Stock Up 4.3 %

Shares of IDYA stock opened at $31.28 on Tuesday. IDEAYA Biosciences has a 52-week low of $27.52 and a 52-week high of $47.74. The firm’s 50-day moving average is $32.23 and its 200-day moving average is $36.70.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data 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 in the prior year, the business posted ($0.46) earnings per share. Sell-side analysts forecast that IDEAYA Biosciences will post -2.44 earnings per share for the current fiscal year.

Institutional Trading of IDEAYA Biosciences

A number of institutional investors have recently modified their holdings of the stock. Jennison Associates LLC acquired a new position in IDEAYA Biosciences in the first quarter valued at about $11,244,000. SG Americas Securities LLC bought a new stake in shares of IDEAYA Biosciences during the 1st quarter worth approximately $101,000. Oppenheimer & Co. Inc. acquired a new stake in shares of IDEAYA Biosciences during the 1st quarter worth approximately $217,000. Oppenheimer Asset Management Inc. bought a new position in IDEAYA Biosciences in the first quarter valued at approximately $459,000. Finally, Swiss National Bank increased its stake 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 acquiring an additional 26,300 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors.

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.