Equities Analysts Offer Predictions for IDYA FY2024 Earnings

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Analysts at Cantor Fitzgerald dropped their FY2024 earnings estimates for IDEAYA Biosciences in a report issued on Tuesday, November 5th. Cantor Fitzgerald analyst L. Watsek now expects that the company will post earnings of ($2.34) per share for the year, down from their previous forecast of ($2.26). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for IDEAYA Biosciences’ current full-year earnings is ($2.51) per share.

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

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Oppenheimer restated an “outperform” rating and issued a $53.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, October 29th. Citigroup lowered their target price on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Finally, Wedbush restated an “outperform” rating and issued a $52.00 target price on shares of IDEAYA Biosciences in a report on Monday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.08.

IDEAYA Biosciences Trading Down 1.4 %

Shares of NASDAQ IDYA opened at $29.99 on Friday. The firm’s 50-day moving average price is $32.57 and its 200-day moving average price is $36.79. 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 P/E ratio of -12.87 and a beta of 0.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of IDEAYA Biosciences by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 4,155,757 shares of the company’s stock valued at $182,355,000 after acquiring an additional 679,985 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of IDEAYA Biosciences by 13.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock valued at $177,825,000 after acquiring an additional 486,222 shares during the period. Janus Henderson Group PLC boosted its holdings in 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. Logos Global Management LP grew its stake in IDEAYA Biosciences by 13.3% in the 2nd quarter. Logos Global Management LP now owns 1,700,000 shares of the company’s stock valued at $59,687,000 after buying an additional 200,000 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in IDEAYA Biosciences by 22.6% during the 2nd quarter. Fiera Capital Corp now owns 1,335,410 shares of the company’s stock valued at $46,886,000 after acquiring an additional 246,010 shares during the period. 98.29% of the stock is owned by 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.