FY2024 EPS Forecast for IDEAYA Biosciences Lifted by Analyst

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Research analysts at Wedbush upped their FY2024 earnings per share (EPS) estimates for shares of IDEAYA Biosciences in a report issued on Monday, November 4th. Wedbush analyst R. Driscoll now expects that the company will post earnings of ($2.40) per share for the year, up from their previous estimate of ($2.67). Wedbush currently has a “Outperform” rating and a $52.00 price target on the stock. The consensus estimate for IDEAYA Biosciences’ current full-year earnings is ($2.51) per share. Wedbush also issued estimates for IDEAYA Biosciences’ Q4 2024 earnings at ($0.63) EPS, Q1 2025 earnings at ($0.68) EPS, Q2 2025 earnings at ($0.72) EPS, Q3 2025 earnings at ($0.78) EPS, Q4 2025 earnings at ($0.82) EPS, FY2025 earnings at ($3.01) EPS, FY2026 earnings at ($3.40) EPS, FY2027 earnings at ($3.07) EPS and FY2028 earnings at ($1.59) EPS.

IDYA has been the topic of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Lifesci Capital upgraded shares of IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. UBS Group assumed coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and set a $53.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Finally, Cantor Fitzgerald started coverage on IDEAYA Biosciences in a report on Tuesday, October 15th. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $53.91.

IDEAYA Biosciences Price Performance

NASDAQ IDYA opened at $31.28 on Thursday. The firm has a market cap of $2.64 billion, a P/E ratio of -13.42 and a beta of 0.86. The stock’s 50-day moving average is $32.23 and its two-hundred day moving average is $36.70. IDEAYA Biosciences has a fifty-two week low of $27.52 and a fifty-two week high of $47.74.

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

Institutional Trading of IDEAYA Biosciences

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of IDEAYA Biosciences in the 1st quarter valued at $101,000. Oppenheimer & Co. Inc. acquired a new stake in shares of IDEAYA Biosciences during the first quarter worth about $217,000. Oppenheimer Asset Management Inc. bought a new position in shares of IDEAYA Biosciences during the 1st quarter valued at about $459,000. Swiss National Bank grew its position in shares of IDEAYA Biosciences by 30.9% in the 1st quarter. Swiss National Bank now owns 111,400 shares of the company’s stock valued at $4,888,000 after purchasing an additional 26,300 shares during the period. Finally, ProShare Advisors LLC increased its stake in IDEAYA Biosciences by 21.1% during the 1st quarter. ProShare Advisors LLC now owns 17,047 shares of the company’s stock worth $748,000 after purchasing an additional 2,966 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.