Q3 Earnings Forecast for IDYA Issued By Leerink Partnrs

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Equities research analysts at Leerink Partnrs lowered their Q3 2024 EPS estimates for IDEAYA Biosciences in a report issued on Tuesday, October 22nd. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings of ($0.71) per share for the quarter, down from their previous forecast of ($0.70). The consensus estimate for IDEAYA Biosciences’ current full-year earnings is ($2.48) per share. Leerink Partnrs also issued estimates for IDEAYA Biosciences’ Q4 2024 earnings at ($0.71) EPS, FY2024 earnings at ($2.64) EPS, FY2025 earnings at ($3.28) EPS, FY2026 earnings at ($3.27) EPS, FY2027 earnings at ($2.54) EPS and FY2028 earnings at ($0.21) EPS.

IDEAYA Biosciences (NASDAQ:IDYA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.14). During the same period in the previous year, the firm posted ($0.50) earnings per share.

Several other research analysts also recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Stifel Nicolaus increased their price objective on IDEAYA Biosciences from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Oppenheimer cut their price objective on IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Finally, Mizuho assumed coverage on IDEAYA Biosciences in a research report on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective for the company. Fourteen 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.com, IDEAYA Biosciences presently has a consensus rating of “Buy” and an average target price of $55.45.

IDEAYA Biosciences Stock Up 0.3 %

Shares of IDEAYA Biosciences stock opened at $29.30 on Thursday. IDEAYA Biosciences has a one year low of $25.22 and a one year high of $47.74. The business’s 50 day simple moving average is $34.32 and its two-hundred day simple moving average is $37.54.

Institutional Investors Weigh In On IDEAYA Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP boosted its stake in IDEAYA Biosciences by 800.0% during the 3rd quarter. Allworth Financial LP now owns 900 shares of the company’s stock valued at $29,000 after purchasing an additional 800 shares during the last quarter. Quest Partners LLC bought a new stake in IDEAYA Biosciences in the 2nd quarter worth about $41,000. Covestor Ltd raised its position in 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 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. Finally, JTC Employer Solutions Trustee Ltd purchased a new stake in shares of IDEAYA Biosciences during the 1st quarter valued at about $67,000. 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.