What is Leerink Partnrs’ Forecast for IDYA FY2024 Earnings?

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Stock analysts at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for shares of IDEAYA Biosciences in a report issued on Tuesday, November 5th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings per share of ($2.53) for the year, up from their prior forecast of ($2.64). Leerink Partnrs 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.

A number of other equities research analysts have also recently commented on IDYA. Citigroup cut their price target 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. UBS Group started coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 24th. Cantor Fitzgerald assumed coverage on IDEAYA Biosciences in a report on Tuesday, October 15th. They issued an “overweight” rating for the company. Finally, Oppenheimer restated an “outperform” rating and set a $53.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.08.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA opened at $29.99 on Thursday. The firm has a market cap of $2.53 billion, a P/E ratio of -12.87 and a beta of 0.86. IDEAYA Biosciences has a fifty-two week low of $27.52 and a fifty-two week high of $47.74. The firm has a 50-day simple moving average of $32.57 and a two-hundred day simple moving average of $36.79.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results 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 period in the prior year, the company earned ($0.46) EPS.

Institutional Trading of IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Entropy Technologies LP purchased a new position in shares of IDEAYA Biosciences during the 1st quarter worth $679,000. Nisa Investment Advisors LLC raised its holdings in IDEAYA Biosciences by 38.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after purchasing an additional 927 shares during the period. Swiss National Bank lifted its position in IDEAYA Biosciences by 30.9% during the first 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 in the last quarter. Quest Partners LLC bought a new stake in IDEAYA Biosciences during the second quarter valued at about $41,000. Finally, Price T Rowe Associates Inc. MD increased its position in IDEAYA Biosciences by 13.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,052,500 shares of the company’s stock worth $177,825,000 after buying an additional 486,222 shares in the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

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.