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

Leerink Partnrs cut 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.

Several other equities analysts have also recently weighed in on the company. Citigroup cut their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Cantor Fitzgerald initiated coverage on IDEAYA Biosciences in a report on Tuesday, October 15th. They set an “overweight” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Stifel Nicolaus upped their target price on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Oppenheimer reissued an “outperform” rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Two equities 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.08.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock opened at $29.99 on Tuesday. The stock’s 50 day simple moving average is $32.57 and its 200 day simple moving average is $36.79. IDEAYA Biosciences has a twelve month low of $27.52 and a twelve month high of $47.74. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -12.87 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the prior year, the business posted ($0.46) earnings per share. On average, analysts forecast that IDEAYA Biosciences will post -2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds have recently modified their holdings of IDYA. Allworth Financial LP raised its stake in IDEAYA Biosciences by 800.0% during the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after acquiring an additional 800 shares in the last quarter. Covestor Ltd raised its stake in shares of IDEAYA Biosciences by 23,050.0% in the third quarter. Covestor Ltd now owns 926 shares of the company’s stock valued at $29,000 after acquiring an additional 922 shares during the last quarter. Quest Partners LLC acquired a new position in shares of IDEAYA Biosciences in the 2nd quarter worth approximately $41,000. US Bancorp DE increased its holdings in 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 in the last quarter. Finally, Comerica Bank raised its position in IDEAYA Biosciences by 723.5% in 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. 98.29% of the stock is owned by institutional investors and hedge funds.

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.