Research Analysts Set Expectations for IDYA FY2024 Earnings

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) - Stock analysts at Cantor Fitzgerald dropped their FY2024 earnings per share estimates for shares of IDEAYA Biosciences in a research note issued on Tuesday, November 5th. Cantor Fitzgerald analyst L. Watsek now forecasts that the company will earn ($2.34) per share for the year, down from their previous estimate of ($2.26). Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for IDEAYA Biosciences' current full-year earnings is ($2.51) per share.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, topping analysts' consensus estimates of ($0.63) by $0.03. During the same period in the prior year, the business posted ($0.46) earnings per share.

IDYA has been the subject of a number of other research reports. Wedbush reiterated an "outperform" rating and issued a $52.00 price target on shares of IDEAYA Biosciences in a report on Monday. Oppenheimer reissued an "outperform" rating and set a $53.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Lifesci Capital raised shares of IDEAYA Biosciences to a "strong-buy" rating in a report on Monday, July 29th. Leerink Partners cut shares of IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $41.00 to $27.00 in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.08.

IDEAYA Biosciences Price Performance

Shares of NASDAQ:IDYA traded up $1.29 during trading on Friday, hitting $31.28. The company had a trading volume of 696,273 shares, compared to its average volume of 850,507. The company has a fifty day simple moving average of $32.23 and a two-hundred day simple moving average of $36.70. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -13.42 and a beta of 0.86. IDEAYA Biosciences has a one year low of $27.52 and a one year high of $47.74.

Institutional Trading of IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP increased its position 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 purchasing an additional 800 shares during the last quarter. Covestor Ltd lifted its holdings in 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 purchased a new stake in IDEAYA Biosciences in the second quarter valued at $41,000. US Bancorp DE lifted its stake in shares of IDEAYA Biosciences by 67.2% in 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 during the last quarter. Finally, Comerica Bank grew its holdings in shares of IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company's stock worth $66,000 after purchasing an additional 1,324 shares during the period. 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.