FY2027 EPS Estimates for IDEAYA Biosciences, Inc. Reduced by Wedbush (NASDAQ:IDYA)

IDEAYA Biosciences, Inc. (NASDAQ:IDYA) – Analysts at Wedbush dropped their FY2027 earnings estimates for IDEAYA Biosciences in a research report issued on Monday, July 8th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings per share of ($0.58) for the year, down from their previous estimate of $0.36. Wedbush currently has a “Outperform” rating and a $56.00 target price on the stock. The consensus estimate for IDEAYA Biosciences’ current full-year earnings is ($2.37) per share. Wedbush also issued estimates for IDEAYA Biosciences’ FY2028 earnings at $2.94 EPS.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group reduced their price target on IDEAYA Biosciences from $53.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Citigroup lifted their target price on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. BTIG Research increased their price target on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday. Mizuho assumed coverage on shares of IDEAYA Biosciences in a report on Monday, July 8th. They set an “outperform” rating and a $50.00 price target for the company. Finally, Oppenheimer upped their price objective on IDEAYA Biosciences from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $53.08.

IDEAYA Biosciences Stock Performance

Shares of IDEAYA Biosciences stock opened at $40.00 on Thursday. The business’s 50 day moving average price is $38.29 and its 200 day moving average price is $40.74. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -19.90 and a beta of 0.86. IDEAYA Biosciences has a one year low of $20.90 and a one year high of $47.74.

IDEAYA Biosciences (NASDAQ:IDYA) last released its earnings results on Tuesday, May 7th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02). IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.49) earnings per share.

Hedge Funds Weigh In On IDEAYA Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in IDEAYA Biosciences by 411.3% in the second quarter. SG Americas Securities LLC now owns 11,775 shares of the company’s stock valued at $413,000 after acquiring an additional 9,472 shares in the last quarter. Boston Partners acquired a new stake in shares of IDEAYA Biosciences in the 1st quarter valued at $588,000. Farallon Capital Management LLC acquired a new stake in shares of IDEAYA Biosciences in the 1st quarter valued at $219,000. Comerica Bank lifted its position in shares of IDEAYA Biosciences by 723.5% during the 1st quarter. Comerica Bank now owns 1,507 shares of the company’s stock worth $66,000 after purchasing an additional 1,324 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of IDEAYA Biosciences by 19.0% during the first quarter. California State Teachers Retirement System now owns 57,535 shares of the company’s stock worth $2,525,000 after purchasing an additional 9,176 shares in the last quarter. 98.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Michael Anthony White sold 28,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total value of $1,032,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 56,711 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $41.61, for a total transaction of $2,359,744.71. Following the sale, the chief executive officer now owns 677,887 shares in the company, valued at approximately $28,206,878.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $1,032,840.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,644 shares of company stock valued at $4,832,228. 3.50% of the stock is currently owned by corporate insiders.

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.