Wedbush Has Bullish Estimate for IDYA FY2024 Earnings

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Equities researchers at Wedbush boosted their FY2024 EPS estimates for shares of IDEAYA Biosciences in a research note issued to investors on Monday, November 4th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings of ($2.40) per share for the year, up from their prior forecast of ($2.67). Wedbush currently has a “Outperform” rating and a $52.00 price target on the stock. The consensus estimate for IDEAYA Biosciences’ current full-year earnings is ($2.51) per share. Wedbush also issued estimates for IDEAYA Biosciences’ Q4 2024 earnings at ($0.63) EPS, Q1 2025 earnings at ($0.68) EPS, Q2 2025 earnings at ($0.72) EPS, Q3 2025 earnings at ($0.78) EPS, Q4 2025 earnings at ($0.82) EPS, FY2025 earnings at ($3.01) EPS, FY2026 earnings at ($3.40) EPS, FY2027 earnings at ($3.07) EPS and FY2028 earnings at ($1.59) EPS.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.03. During the same quarter in the prior year, the company earned ($0.46) EPS.

A number of other brokerages have also recently commented on IDYA. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $41.00 to $27.00 in a research report on Tuesday. Cantor Fitzgerald assumed coverage on IDEAYA Biosciences in a research report on Tuesday, October 15th. They set an “overweight” rating for the company. Stifel Nicolaus lifted their target price on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Citigroup lowered their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, UBS Group began coverage on shares of IDEAYA Biosciences in a research report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective for the company. Two equities research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.08.

IDEAYA Biosciences Price Performance

Shares of NASDAQ:IDYA opened at $29.99 on Thursday. IDEAYA Biosciences has a 1 year low of $27.52 and a 1 year high of $47.74. The firm has a market capitalization of $2.53 billion, a PE ratio of -12.87 and a beta of 0.86. The business has a 50 day simple moving average of $32.57 and a two-hundred day simple moving average of $36.79.

Institutional Trading of IDEAYA Biosciences

Large investors have recently made changes to their positions in the company. Allworth Financial LP grew its stake in shares of IDEAYA Biosciences by 800.0% in the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after purchasing an additional 800 shares during the last quarter. Covestor Ltd increased its stake in shares of IDEAYA Biosciences by 23,050.0% during the 3rd quarter. Covestor Ltd now owns 926 shares of the company’s stock worth $29,000 after purchasing an additional 922 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of IDEAYA Biosciences during the second quarter valued at $41,000. US Bancorp DE grew its holdings in shares of IDEAYA Biosciences by 67.2% during the third quarter. US Bancorp DE now owns 1,714 shares of the company’s stock worth $54,000 after buying an additional 689 shares in the last quarter. Finally, Comerica Bank grew its stake in IDEAYA Biosciences by 723.5% in the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after acquiring an additional 1,324 shares during the period. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

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.