IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Forecasted to Post Q3 2024 Earnings of ($0.70) Per Share

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Equities research analysts at Leerink Partnrs cut their Q3 2024 earnings per share (EPS) estimates for IDEAYA Biosciences in a research report issued to clients and investors on Tuesday, August 6th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings per share of ($0.70) for the quarter, down from their previous estimate of ($0.58). The consensus estimate for IDEAYA Biosciences’ current full-year earnings is ($2.22) per share. Leerink Partnrs also issued estimates for IDEAYA Biosciences’ Q4 2024 earnings at ($0.75) EPS, FY2024 earnings at ($2.67) EPS, FY2025 earnings at ($3.57) EPS, FY2026 earnings at ($3.79) EPS, FY2027 earnings at ($3.10) EPS and FY2028 earnings at $0.47 EPS.

Several other equities analysts also recently issued reports on the company. Oppenheimer cut their target price on IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wedbush reissued an “outperform” rating and issued a $54.00 price objective on shares of IDEAYA Biosciences in a report on Wednesday. Lifesci Capital raised IDEAYA Biosciences to a “strong-buy” rating in a report on Monday, July 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $63.00 target price on shares of IDEAYA Biosciences in a research report on Monday, July 8th. Finally, The Goldman Sachs Group reduced their price target on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, May 13th. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, IDEAYA Biosciences currently has an average rating of “Buy” and a consensus price target of $55.90.

IDEAYA Biosciences Trading Up 0.8 %

NASDAQ IDYA opened at $37.89 on Friday. IDEAYA Biosciences has a 12-month low of $23.41 and a 12-month high of $47.74. The company has a fifty day simple moving average of $38.58 and a two-hundred day simple moving average of $41.19. The stock has a market cap of $2.87 billion, a P/E ratio of -18.85 and a beta of 0.87.

IDEAYA Biosciences (NASDAQ:IDYA) last announced 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). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. During the same quarter in the previous year, the business earned ($0.50) earnings per share.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of hedge funds have recently bought and sold shares of IDYA. Vanguard Group Inc. raised its stake 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 worth $182,355,000 after buying an additional 679,985 shares during the period. Capital Research Global Investors lifted its holdings in IDEAYA Biosciences by 43.6% during the fourth quarter. Capital Research Global Investors now owns 1,976,870 shares of the company’s stock valued at $70,337,000 after purchasing an additional 600,000 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in IDEAYA Biosciences by 17.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,566,278 shares of the company’s stock valued at $126,889,000 after purchasing an additional 535,909 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of IDEAYA Biosciences by 1,611.9% during the fourth quarter. Fisher Asset Management LLC now owns 539,676 shares of the company’s stock worth $19,202,000 after purchasing an additional 508,151 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of IDEAYA Biosciences by 14.8% during the 4th quarter. Federated Hermes Inc. now owns 3,883,775 shares of the company’s stock worth $138,185,000 after purchasing an additional 500,046 shares during the last quarter. Hedge funds and other institutional investors own 98.29% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Yujiro S. Hata sold 56,711 shares of IDEAYA Biosciences stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the completion of the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $28,206,878.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Michael Anthony White sold 28,500 shares of the stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Yujiro S. Hata sold 56,711 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the sale, the chief executive officer now owns 677,887 shares in the company, valued at $28,206,878.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,644 shares of company stock worth $4,832,228. Corporate insiders own 3.50% 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.