Ideaya Biosciences stock hits 52-week low at $16.95

In a challenging year for biotech firms, Ideaya Biosciences Inc . (NASDAQ:IDYA) stock has reached a 52-week low, touching down at $16.95. With a market capitalization of $1.48 billion, the company has caught analysts’ attention, with targets ranging from $27 to $65 per share. According to InvestingPro analysis, the stock appears to be trading near its Fair Value. The company, which specializes in precision medicine oncology, has seen its shares tumble significantly, reflecting a broader industry trend amidst a tough market environment. Over the past year, Ideaya’s stock has experienced a precipitous decline of over 60%. Despite the challenging market conditions, the company maintains a strong balance sheet with more cash than debt, and analysts have recently revised earnings estimates upward. InvestingPro subscribers can access 8 additional key insights about IDYA’s financial health and growth prospects through the comprehensive Pro Research Report.

In other recent news, IDEAYA Biosciences has announced the appointment of Joshua Bleharski, Ph.D., as its new Chief Financial Officer, with his tenure beginning in May 2025. Dr. Bleharski brings nearly two decades of experience from J.P. Morgan, where he was Managing Director and Global Co-Head of Biopharma. Meanwhile, BTIG analysts have maintained a Buy rating on IDEAYA Biosciences, setting a price target of $62.00, citing significant pipeline updates expected in 2025. These updates include clinical data from studies on darovasertib and IDE397, as well as Phase 1 data for Werner Helicase inhibitor IDE275.

Additionally, IDEAYA Biosciences has entered into an exclusive license agreement with Jiangsu Hengrui Pharma for the drug SHR-4849, aimed at treating small cell lung cancer and neuroendocrine solid tumors. This agreement involves potential payments to Jiangsu Hengrui Pharma totaling up to $1.045 billion, alongside royalties on sales outside Greater China. IDEAYA will handle the development and commercialization of SHR-4849 outside this region and plans to file a US Investigational New Drug application in the first half of 2025. The company has stated that this deal will not significantly impact its cash runway, which is projected to last into 2028.

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