Leerink Partnrs Brokers Decrease Earnings Estimates for IDYA

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Equities researchers at Leerink Partnrs lowered their Q3 2024 earnings estimates for shares of IDEAYA Biosciences in a research note issued on Tuesday, October 22nd. Leerink Partnrs analyst A. Berens now anticipates that the company will earn ($0.71) per share for the quarter, down from their prior forecast of ($0.70). 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 ($0.71) 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.

IDYA has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their target price on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Mizuho assumed coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Wedbush dropped their price objective on shares of IDEAYA Biosciences from $54.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 24th. Finally, Oppenheimer dropped their price objective on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $55.45.

IDEAYA Biosciences Price Performance

Shares of IDYA stock opened at $29.20 on Thursday. The company has a market capitalization of $2.21 billion, a P/E ratio of -14.53 and a beta of 0.82. The company’s 50-day simple moving average is $34.50 and its two-hundred day simple moving average is $37.60. IDEAYA Biosciences has a one year low of $23.41 and a one year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its earnings results on Tuesday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). During the same period last year, the company posted ($0.50) EPS.

Institutional Investors Weigh In On IDEAYA Biosciences

Several institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its stake in IDEAYA Biosciences by 5.3% in the first quarter. Ameritas Investment Partners Inc. now owns 6,562 shares of the company’s stock valued at $288,000 after acquiring an additional 332 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of IDEAYA Biosciences by 4.4% in the first quarter. Principal Financial Group Inc. now owns 15,275 shares of the company’s stock worth $670,000 after buying an additional 648 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of IDEAYA Biosciences by 35.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,056 shares of the company’s stock worth $94,000 after buying an additional 796 shares during the last quarter. Allworth Financial LP raised its holdings in shares of IDEAYA Biosciences by 800.0% in the third quarter. Allworth Financial LP now owns 900 shares of the company’s stock worth $29,000 after buying an additional 800 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of IDEAYA Biosciences by 38.4% in the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after buying an additional 927 shares during the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.