Brokers Issue Forecasts for IDYA FY2029 Earnings

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Investment analysts at Wedbush issued their FY2029 EPS estimates for IDEAYA Biosciences in a report issued on Thursday, February 13th. Wedbush analyst R. Driscoll expects that the company will earn $1.20 per share 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 ($2.45) per share.

A number of other equities research analysts also recently weighed in on the stock. Leerink Partners downgraded shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $41.00 to $27.00 in a research note on Tuesday, November 5th. Oppenheimer restated an “outperform” rating and issued a $53.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Monday, January 13th. UBS Group began coverage on shares of IDEAYA Biosciences in a report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Stephens reiterated an “overweight” rating and issued a $50.00 price objective on shares of IDEAYA Biosciences in a report on Friday. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $53.58.

IDEAYA Biosciences Trading Up 1.2 %

IDYA opened at $21.00 on Monday. The company’s 50 day moving average is $24.36 and its 200-day moving average is $29.88. IDEAYA Biosciences has a 1-year low of $20.63 and a 1-year high of $47.74. The company has a market cap of $1.82 billion, a P/E ratio of -9.01 and a beta of 0.82.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82). The business had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $7.00 million.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of IDEAYA Biosciences by 12.1% in the third quarter. FMR LLC now owns 12,635,653 shares of the company’s stock worth $400,297,000 after buying 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 third quarter worth about $42,681,000. Janus Henderson Group PLC lifted its holdings in shares of IDEAYA Biosciences by 26.7% in the third quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock worth $163,518,000 after buying an additional 1,086,356 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of IDEAYA Biosciences by 136.6% in the third quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock worth $30,801,000 after buying an additional 561,404 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of IDEAYA Biosciences in the fourth quarter worth about $13,385,000. 98.29% of the stock is owned by hedge funds and other 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.