IDEAYA Biosciences (IDYA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on February 20. Analyst Andrew Berens from Leerink Partners reiterated a Hold rating on the stock and has a $27.00 price target.
Andrew Berens’s rating is based on several considerations regarding IDEAYA Biosciences. One major factor influencing the Hold rating is the adjustment in the financial model following the company’s recent 10-K filing. This update did not affect the 2025 estimates, but it did lead to a forecast of significant equity raises in the coming years to support the company’s advancing pipeline. The need for additional capital suggests a potential increase in cash outflows, which could impact the company’s financial stability.
Furthermore, while the company’s advancements are promising, the requirement for substantial equity raises in 2026, 2027, and 2028 indicates that IDEAYA Biosciences might face financial pressures as it progresses. This assessment aligns with the reiterated market perform rating and the current price target of $27. These elements combined lead to a cautious outlook, justifying the Hold rating as the company navigates its upcoming financial and developmental hurdles.
According to TipRanks, Berens is an analyst with an average return of -6.8% and a 36.16% success rate. Berens covers the Healthcare sector, focusing on stocks such as AstraZeneca, Exelixis, and Incyte.