Leerink Partnrs Has Pessimistic View of IDYA Q3 Earnings

IDEAYA Biosciences, Inc. (NASDAQ:IDYA - Free Report) - Investment analysts at Leerink Partnrs lowered their Q3 2024 earnings estimates for IDEAYA Biosciences in a research note issued on Tuesday, October 22nd. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings of ($0.71) per share for the quarter, down from their previous estimate of ($0.70). 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 ($0.71) EPS, FY2024 earnings at ($2.64) EPS, FY2025 earnings at ($3.28) EPS, FY2026 earnings at ($3.27) EPS, FY2027 earnings at ($2.54) EPS and FY2028 earnings at ($0.21) EPS.

A number of other research analysts have also recently commented on the stock. Wedbush reduced their price target on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, September 24th. Oppenheimer reduced their target price on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. BTIG Research lifted their price objective on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, July 9th. Finally, Citigroup cut their target price on IDEAYA Biosciences from $60.00 to $58.00 and set a "buy" rating on the stock in a research note on Tuesday, August 27th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $55.45.

IDEAYA Biosciences Price Performance

IDYA stock traded down $0.30 during mid-day trading on Thursday, hitting $29.20. 575,812 shares of the stock were exchanged, compared to its average volume of 853,957. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -14.53 and a beta of 0.82. The business has a fifty day moving average price of $34.50 and a 200 day moving average price of $37.60. IDEAYA Biosciences has a 12 month low of $23.41 and a 12 month high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.14). During the same period in the previous year, the company earned ($0.50) EPS.

Institutional Trading of IDEAYA Biosciences

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its holdings in IDEAYA Biosciences by 800.0% in the 3rd quarter. Allworth Financial LP now owns 900 shares of the company's stock worth $29,000 after acquiring an additional 800 shares in the last quarter. Quest Partners LLC purchased a new position in IDEAYA Biosciences in the 2nd quarter worth approximately $41,000. Covestor Ltd boosted its stake in IDEAYA Biosciences by 9,225.0% in the 1st quarter. Covestor Ltd now owns 1,119 shares of the company's stock worth $49,000 after purchasing an additional 1,107 shares during the period. Comerica Bank grew its holdings in IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company's stock valued at $66,000 after buying an additional 1,324 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in shares of IDEAYA Biosciences in the first quarter worth $67,000. Institutional investors own 98.29% of the company's stock.

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.