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IDYA · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is IDEAYA Biosciences, Inc. Common Stock (IDYA) stock moving?
IDYA closed at $31.75 on Nov 10, down about 12% from $36.12 on Oct 22, with heavier volume on the Nov 3 results day and the Nov 5 drop to $30.65. The Q3 report on Nov 3 was mixed: revenue of $10.2M beat the roughly $6.9M estimate, but EPS of $(1.22) missed the $(1.18) consensus, with a net loss of $125.7M. Management kept cash runway into 2030 with $1.15B in cash and securities, and completed the darovasertib NDA for metastatic uveal melanoma in Q3. Analysts mostly kept Outperform or Buy ratings, with targets between $39 and $66, all above the current price, but most cut targets after the report, and Mizuho's cut to $39 on Nov 10 is the lowest. The next near-term catalyst is the R&D Day on Nov 16, which will show preclinical MTAP/CDKN2A data. Regulatory review of darovasertib and early IDE849 data from the global trial (expected by end-2026 or early 2027) are still ahead, so the outlook depends on events not yet reported.
News behind the analysis
- Mizuho Maintains Outperform on IDEAYA Biosciences, Lowers Price Target to $39Mizuho kept its Outperform rating but cut its price target to $39. The stock closed at $31.75 on Nov 10.
- Citigroup Maintains Buy on IDEAYA Biosciences, Raises Price Target to $66Citigroup reiterated its Buy rating and raised its price target to $66. This is the highest target among the recent analyst updates.
- RBC Capital Markets Lowers Price Target on IDEAYA Biosciences to $45RBC lowered its price target to $45 from $48 and kept its Outperform rating. The move followed the third-quarter update.
- Truist Securities Reiterates Buy on IDEAYA Biosciences, Lowers Price Target to $57Truist reiterated its Buy rating and lowered its price target to $57. The stock remains well below that level.
- Guggenheim Maintains Buy on IDEAYA Biosciences, Lowers Price Target to $52Guggenheim kept its Buy rating and cut its price target to $52.
- IDEAYA Biosciences Reports Third Quarter 2026 Financial Results and Business UpdateQ3 net loss was $125.7M and revenue was $10.2M. Cash stood at $1.15B with runway guidance into 2030, and the darovasertib NDA was completed in Q3 for metastatic uveal melanoma. An R&D Day is set for Nov 16.
- IDEAYA Biosciences Q3 EPS $(1.22) Misses $(1.18) Estimate, Sales $10.242M Beat $6.857M EstimateThird-quarter EPS missed consensus by $0.04, while revenue beat estimates by about $3.4M.
- Wedbush Maintains Outperform on IDEAYA Biosciences, Raises Price Target to $63Wedbush kept its Outperform rating and raised its price target to $63 from $60 after the Q3 update.
- IDEAYA Biosciences to Participate in Upcoming November 2026 Investor Relations EventsThe company said it will attend investor relations events in November 2026.
- IDEAYA Biosciences Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)The company granted equity inducement awards to new employees under Nasdaq Listing Rule 5635(c)(4). This is routine and has little price relevance.
About IDEAYA Biosciences, Inc. Common Stock
IDEAYA Biosciences is a clinical-stage biotech based in South San Francisco that develops targeted cancer drugs for patients whose tumours have specific genetic features. Its lead drug is darovasertib for uveal melanoma, a rare eye cancer, and it has submitted an application for FDA approval in the metastatic setting. It is also developing IDE849, a DLL3-targeted antibody-drug conjugate for small cell lung cancer, and several drugs aimed at MTAP-deleted tumours.
How it makes money
IDEAYA has no approved products on the market yet. Its revenue is collaboration revenue, recently about $10 million a quarter, which comes mainly from its darovasertib license with Servier. The company loses money, with net losses of about $125 million a quarter. It pays for research using roughly $1.15 billion in cash and investments, which it says should last into 2030.
What usually moves IDYA
- FDA decision on darovasertib in uveal melanoma
- Clinical trial data readouts (IDE849, IDE892, IDE397)
- Cash burn and potential share offerings
- Partnership deals and licensing news
- Biotech sector sentiment and interest rates