Equities Analysts Issue Forecasts for IDYA FY2024 Earnings

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Research analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for shares of IDEAYA Biosciences in a note issued to investors on Wednesday, October 16th. Cantor Fitzgerald analyst L. Watsek anticipates that the company will post earnings of ($2.26) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for IDEAYA Biosciences’ current full-year earnings is ($2.51) per share.

Other equities analysts have also recently issued reports about the stock. Oppenheimer dropped their price objective on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Wedbush decreased their price objective 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. Mizuho began coverage on shares of IDEAYA Biosciences in a report on Monday, July 8th. They issued an “outperform” rating and a $50.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $56.00.

IDEAYA Biosciences Stock Performance

Shares of IDEAYA Biosciences stock opened at $30.54 on Friday. The company has a market capitalization of $2.31 billion, a P/E ratio of -15.19 and a beta of 0.82. IDEAYA Biosciences has a 1 year low of $23.41 and a 1 year high of $47.74. The company’s fifty day moving average is $34.94 and its two-hundred day moving average is $37.87.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). During the same quarter in the previous year, the business earned ($0.50) earnings per share.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Quest Partners LLC purchased a new stake in IDEAYA Biosciences during the second quarter valued at about $41,000. Covestor Ltd lifted its position in shares of 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 buying an additional 1,107 shares during the last quarter. Comerica Bank boosted 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. JTC Employer Solutions Trustee Ltd acquired a new position in IDEAYA Biosciences during the 1st quarter valued at approximately $67,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of IDEAYA Biosciences by 637.9% during the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock valued at $68,000 after acquiring an additional 1,684 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.