FY2024 Earnings Estimate for IDYA Issued By Leerink Partnrs

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Analysts at Leerink Partnrs lifted their FY2024 earnings per share estimates for shares of IDEAYA Biosciences in a research note issued to 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 estimate 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.

Several other analysts also recently weighed in on IDYA. Lifesci Capital raised shares of IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lowered their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus raised their price target on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Citigroup lowered their price objective on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $41.00 to $27.00 in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IDEAYA Biosciences currently has an average rating of “Moderate Buy” and an average target price of $53.08.

IDEAYA Biosciences Stock Performance

Shares of IDEAYA Biosciences stock opened at $29.99 on Thursday. IDEAYA Biosciences has a 52-week low of $27.52 and a 52-week high of $47.74. The company has a fifty day moving average of $32.57 and a 200-day moving average of $36.79. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -12.87 and a beta of 0.86.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Monday, November 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.03. During the same period in the previous year, the business posted ($0.46) earnings per share.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of large investors have recently modified their holdings of IDYA. Vanguard Group Inc. lifted its stake in shares of IDEAYA Biosciences by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after purchasing an additional 679,985 shares during the period. Price T Rowe Associates Inc. MD lifted its position in IDEAYA Biosciences by 13.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock valued at $177,825,000 after buying an additional 486,222 shares during the period. Sofinnova Investments Inc. boosted its holdings in shares of IDEAYA Biosciences by 47.3% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,151,528 shares of the company’s stock valued at $40,430,000 after buying an additional 369,932 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of IDEAYA Biosciences by 7.2% in the 1st quarter. Janus Henderson Group PLC now owns 3,808,450 shares of the company’s stock worth $167,104,000 after buying an additional 256,559 shares during the period. Finally, Fiera Capital Corp grew its position in shares of IDEAYA Biosciences by 22.6% in the 2nd quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock worth $46,886,000 after buying an additional 246,010 shares during the period. Institutional investors own 98.29% of the company’s stock.

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.