Research Analysts Set Expectations for IDYA FY2029 Earnings

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) - Analysts at Wedbush issued their FY2029 earnings per share (EPS) estimates for IDEAYA Biosciences in a report issued on Thursday, February 13th. Wedbush analyst R. Driscoll expects that the company will post earnings per share of $1.20 for the year. Wedbush has a "Outperform" rating and a $52.00 price objective on the stock. The consensus estimate for IDEAYA Biosciences' current full-year earnings is ($2.80) per share.

Several other research firms have also commented on IDYA. Leerink Partners lowered IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $41.00 to $27.00 in a research report on Tuesday, November 5th. Oppenheimer restated an "outperform" rating and set a $53.00 price target on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. UBS Group assumed coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They issued a "buy" rating and a $50.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, IDEAYA Biosciences has an average rating of "Moderate Buy" and a consensus price target of $53.58.

IDEAYA Biosciences Stock Performance

Shares of IDYA traded up $0.22 during midday trading on Monday, hitting $20.66. 866,030 shares of the stock were exchanged, compared to its average volume of 886,098. IDEAYA Biosciences has a 52-week low of $19.96 and a 52-week high of $47.72. The stock has a fifty day simple moving average of $23.94 and a 200 day simple moving average of $29.44. The firm has a market cap of $1.79 billion, a P/E ratio of -6.26 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.00 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. FMR LLC boosted its stake in IDEAYA Biosciences by 12.1% in the third quarter. FMR LLC now owns 12,635,653 shares of the company's stock valued at $400,297,000 after acquiring an additional 1,365,570 shares in the last quarter. RA Capital Management L.P. purchased a new stake in shares of IDEAYA Biosciences in the 3rd quarter valued at about $42,681,000. Janus Henderson Group PLC boosted its position in shares of IDEAYA Biosciences by 26.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company's stock valued at $163,518,000 after purchasing an additional 1,086,356 shares during the period. Jennison Associates LLC boosted its position in shares of IDEAYA Biosciences by 136.6% in the 3rd quarter. Jennison Associates LLC now owns 972,266 shares of the company's stock valued at $30,801,000 after purchasing an additional 561,404 shares during the period. Finally, Norges Bank purchased a new position in IDEAYA Biosciences during the 4th quarter worth approximately $13,385,000. Institutional investors and hedge funds own 98.29% of the company's stock.

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.