Research Analysts Issue Forecasts for IDYA FY2029 Earnings

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Research analysts at Wedbush issued their FY2029 earnings estimates for IDEAYA Biosciences in a research note issued to investors on Thursday, February 13th. Wedbush analyst R. Driscoll forecasts that the company will earn $1.20 per share for the year. Wedbush currently has a “Outperform” rating and a $52.00 target price on the stock. The consensus estimate for IDEAYA Biosciences’ current full-year earnings is ($2.45) per share.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.82). The business had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $7.00 million.

A number of other brokerages have also recently commented on IDYA. Leerink Partnrs cut IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a report on Wednesday, January 15th. Stephens reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of IDEAYA Biosciences in a research note on Friday, February 14th. Leerink Partners cut shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and cut their price target for the company from $41.00 to $27.00 in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.58.

IDEAYA Biosciences Price Performance

Shares of IDYA opened at $20.44 on Monday. The firm has a market capitalization of $1.77 billion, a PE ratio of -8.77 and a beta of 0.82. IDEAYA Biosciences has a fifty-two week low of $20.39 and a fifty-two week high of $47.72. The company’s 50-day moving average is $24.22 and its 200-day moving average is $29.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in shares of IDEAYA Biosciences by 12.1% during the 3rd quarter. FMR LLC now owns 12,635,653 shares of the company’s stock valued at $400,297,000 after acquiring an additional 1,365,570 shares during the period. RA Capital Management L.P. bought a new position in shares of IDEAYA Biosciences in the third quarter worth $42,681,000. Janus Henderson Group PLC raised its holdings in shares of IDEAYA Biosciences by 26.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,162,376 shares of the company’s stock valued at $163,518,000 after acquiring an additional 1,086,356 shares in the last quarter. Jennison Associates LLC raised its stake in IDEAYA Biosciences by 136.6% in the third quarter. Jennison Associates LLC now owns 972,266 shares of the company’s stock valued at $30,801,000 after purchasing an additional 561,404 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of IDEAYA Biosciences during the 4th quarter worth $13,385,000. Hedge funds and other 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.