Q3 2024 EPS Estimates for IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Boosted by Leerink Partnrs

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Leerink Partnrs upped their Q3 2024 EPS estimates for IDEAYA Biosciences in a research report issued on Wednesday, July 24th. Leerink Partnrs analyst A. Berens now anticipates that the company will post earnings of ($0.58) per share for the quarter, up from their prior estimate of ($0.64). 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 ($0.63) EPS, FY2024 earnings at ($2.34) EPS, FY2025 earnings at ($3.02) EPS, FY2026 earnings at ($3.12) EPS, FY2027 earnings at ($2.34) EPS and FY2028 earnings at $1.12 EPS.

IDEAYA Biosciences (NASDAQ:IDYA) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. The firm’s revenue was down 100.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.49) EPS.

A number of other brokerages have also commented on IDYA. Stifel Nicolaus reissued a “buy” rating and issued a $63.00 price objective on shares of IDEAYA Biosciences in a research report on Monday, July 8th. The Goldman Sachs Group dropped their price target on shares of IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. BTIG Research upped their price target on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Oppenheimer upped their price target on shares of IDEAYA Biosciences from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, Mizuho began coverage on shares of IDEAYA Biosciences in a research report on Monday, July 8th. They set an “outperform” rating and a $50.00 price target on the stock. Fourteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $52.92.

IDEAYA Biosciences Stock Up 0.2 %

IDEAYA Biosciences stock opened at $42.39 on Friday. The stock has a market capitalization of $3.21 billion, a PE ratio of -21.09 and a beta of 0.86. IDEAYA Biosciences has a twelve month low of $20.90 and a twelve month high of $47.74. The company has a 50 day moving average of $38.34 and a 200-day moving average of $41.24.

Insiders Place Their Bets

In related news, CEO Yujiro S. Hata sold 34,433 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total value of $1,439,643.73. Following the sale, the chief executive officer now owns 677,887 shares in the company, valued at approximately $28,342,455.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Yujiro S. Hata sold 56,711 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total value of $2,359,744.71. Following 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Yujiro S. Hata sold 34,433 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.81, for a total value of $1,439,643.73. Following the completion of the transaction, the chief executive officer now owns 677,887 shares in the company, valued at $28,342,455.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,644 shares of company stock worth $4,832,228. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On IDEAYA Biosciences

Several large investors have recently made changes to their positions in IDYA. Bank of New York Mellon Corp increased its stake in IDEAYA Biosciences by 43.0% during the second quarter. Bank of New York Mellon Corp now owns 316,492 shares of the company’s stock worth $11,112,000 after acquiring an additional 95,129 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in IDEAYA Biosciences by 38.4% during the second quarter. Nisa Investment Advisors LLC now owns 3,340 shares of the company’s stock worth $117,000 after acquiring an additional 927 shares during the last quarter. SG Americas Securities LLC increased its stake in IDEAYA Biosciences by 411.3% during the second quarter. SG Americas Securities LLC now owns 11,775 shares of the company’s stock worth $413,000 after acquiring an additional 9,472 shares during the last quarter. Boston Partners bought a new stake in IDEAYA Biosciences during the first quarter worth approximately $588,000. Finally, Farallon Capital Management LLC bought a new stake in IDEAYA Biosciences during the first quarter worth approximately $219,000. 98.29% of the stock is owned by institutional investors.

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.