IDEAYA Biosciences, Inc. (NASDAQ:IDYA) to Post Q3 2024 Earnings of ($0.72) Per Share, Wedbush Forecasts

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Equities researchers at Wedbush lowered their Q3 2024 earnings estimates for shares of IDEAYA Biosciences in a research note issued on Wednesday, August 7th. Wedbush analyst R. Driscoll now anticipates that the company will earn ($0.72) per share for the quarter, down from their prior forecast of ($0.58). Wedbush has a “Outperform” rating and a $54.00 price objective on the stock. The consensus estimate for IDEAYA Biosciences’ current full-year earnings is ($2.22) per share. Wedbush also issued estimates for IDEAYA Biosciences’ Q4 2024 earnings at ($0.71) EPS, FY2024 earnings at ($2.67) EPS, Q1 2025 earnings at ($0.79) EPS, Q2 2025 earnings at ($0.84) EPS, Q3 2025 earnings at ($0.90) EPS, Q4 2025 earnings at ($0.96) EPS, FY2025 earnings at ($3.47) EPS, FY2026 earnings at ($3.58) EPS, FY2027 earnings at ($2.64) EPS and FY2028 earnings at ($0.32) EPS.

A number of other analysts have also weighed in on the stock. Oppenheimer lowered their price objective on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday. Stifel Nicolaus reissued a “buy” rating and set a $63.00 price objective on shares of IDEAYA Biosciences in a report on Monday, July 8th. The Goldman Sachs Group lowered their target price on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating for the company in a report on Monday, May 13th. Finally, BTIG Research increased their target price on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $55.90.

IDEAYA Biosciences Trading Up 0.8 %

IDYA opened at $37.89 on Friday. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -18.85 and a beta of 0.87. IDEAYA Biosciences has a 12-month low of $23.41 and a 12-month high of $47.74. The business’s fifty day simple moving average is $38.58 and its 200-day simple moving average is $41.19.

IDEAYA Biosciences (NASDAQ:IDYA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.14). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. During the same period in the prior year, the firm posted ($0.50) earnings per share.

Insider Activity

In related news, insider Michael Anthony White sold 28,500 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total transaction of $1,032,840.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other IDEAYA Biosciences news, insider Michael Anthony White sold 28,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total transaction of $1,032,840.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Yujiro S. Hata sold 34,433 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total transaction of $1,439,643.73. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $28,342,455.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,644 shares of company stock worth $4,832,228. Insiders own 3.50% of the company’s stock.

Institutional Trading of IDEAYA Biosciences

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of IDEAYA Biosciences in the second quarter worth about $41,000. Covestor Ltd raised its position in IDEAYA Biosciences by 9,225.0% during 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 lifted its stake 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 acquiring an additional 1,324 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of IDEAYA Biosciences in the 1st quarter valued at $67,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of IDEAYA Biosciences by 637.9% in the second quarter. Daiwa Securities Group Inc. now owns 1,948 shares of the company’s stock worth $68,000 after acquiring an additional 1,684 shares during the period. Hedge funds and other 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.