Leerink Partnrs Issues Optimistic Estimate for IDYA Earnings

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) - Analysts at Leerink Partnrs boosted their FY2024 earnings per share (EPS) estimates for shares of IDEAYA Biosciences in a research report issued to clients and investors on Tuesday, November 5th. Leerink Partnrs analyst A. Berens now anticipates that the company will earn ($2.53) per share for the year, up from their prior forecast of ($2.64). Leerink Partnrs currently has a "Hold" rating on the stock. The consensus estimate for IDEAYA Biosciences' current full-year earnings is ($2.51) per share. Leerink Partnrs also issued estimates for IDEAYA Biosciences' Q4 2024 earnings at ($0.72) EPS, FY2025 earnings at ($2.80) EPS, FY2026 earnings at ($2.88) EPS, FY2027 earnings at ($2.77) EPS and FY2028 earnings at ($2.08) EPS.

Other equities analysts also recently issued reports about the company. Lifesci Capital upgraded IDEAYA Biosciences to a "strong-buy" rating in a research report on Monday, July 29th. Stifel Nicolaus increased their target price on IDEAYA Biosciences from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Leerink Partners downgraded IDEAYA Biosciences from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $41.00 to $27.00 in a research report on Tuesday. UBS Group initiated coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They set a "buy" rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on IDEAYA Biosciences from $69.00 to $66.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.08.

IDEAYA Biosciences Stock Down 1.4 %

IDEAYA Biosciences stock traded down $0.42 during trading hours on Thursday, hitting $29.99. The stock had a trading volume of 505,714 shares, compared to its average volume of 851,221. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -12.87 and a beta of 0.86. IDEAYA Biosciences has a one year low of $27.52 and a one year high of $47.74. The business's 50 day simple moving average is $32.57 and its 200-day simple moving average is $36.79.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.03. During the same period in the prior year, the company earned ($0.46) earnings per share.

Institutional Investors Weigh In On IDEAYA Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP increased its holdings in IDEAYA Biosciences by 800.0% in the third quarter. Allworth Financial LP now owns 900 shares of the company's stock worth $29,000 after purchasing an additional 800 shares in the last quarter. Covestor Ltd grew its stake 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 period. Quest Partners LLC acquired a new stake in IDEAYA Biosciences in the second quarter valued at approximately $41,000. Comerica Bank grew its stake in IDEAYA Biosciences by 723.5% in the first quarter. Comerica Bank now owns 1,507 shares of the company's stock valued at $66,000 after acquiring an additional 1,324 shares during the period. Finally, US Bancorp DE grew its stake in IDEAYA Biosciences by 67.2% in the third quarter. US Bancorp DE now owns 1,714 shares of the company's stock valued at $54,000 after acquiring an additional 689 shares during the period. 98.29% of the stock is currently owned by institutional investors.

About IDEAYA Biosciences

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.