Q2 2022 EPS Estimates for IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Reduced by Jefferies Financial Group

IDEAYA Biosciences, Inc. (NASDAQ:IDYA – Get Rating) – Jefferies Financial Group reduced their Q2 2022 EPS estimates for shares of IDEAYA Biosciences in a note issued to investors on Wednesday, May 11th. Jefferies Financial Group analyst M. Raycroft now expects that the company will earn ($0.68) per share for the quarter, down from their prior estimate of ($0.62). Jefferies Financial Group also issued estimates for IDEAYA Biosciences’ Q3 2022 earnings at ($0.71) EPS, FY2023 earnings at ($2.57) EPS, FY2024 earnings at ($2.57) EPS, FY2025 earnings at ($0.87) EPS and FY2026 earnings at $1.56 EPS.

IDEAYA Biosciences (NASDAQ:IDYA – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.05. IDEAYA Biosciences had a negative net margin of 170.82% and a negative return on equity of 19.08%.

IDYA has been the subject of a number of other reports. Zacks Investment Research upgraded shares of IDEAYA Biosciences from a “sell” rating to a “hold” rating in a report on Friday, March 18th. Wedbush reiterated an “outperform” rating and set a $34.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, March 16th. Stifel Nicolaus raised shares of IDEAYA Biosciences from a “hold” rating to a “buy” rating and lowered their target price for the company from $27.00 to $20.00 in a research note on Thursday, March 10th. Finally, Roth Capital boosted their price target on IDEAYA Biosciences from $42.00 to $46.00 in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEAYA Biosciences currently has a consensus rating of “Buy” and a consensus price target of $30.20.

NASDAQ IDYA opened at $11.43 on Monday. The company’s 50 day moving average is $10.95 and its 200-day moving average is $16.32. IDEAYA Biosciences has a 12-month low of $8.14 and a 12-month high of $28.00. The firm has a market cap of $441.66 million, a P/E ratio of -7.78 and a beta of 1.77.

A number of institutional investors and hedge funds have recently modified their holdings of IDYA. Point72 Hong Kong Ltd increased its position in IDEAYA Biosciences by 363.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 3,376 shares of the company’s stock valued at $38,000 after acquiring an additional 2,648 shares during the period. Quantbot Technologies LP raised its holdings in shares of IDEAYA Biosciences by 90.5% during the first quarter. Quantbot Technologies LP now owns 4,000 shares of the company’s stock worth $44,000 after acquiring an additional 1,900 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of IDEAYA Biosciences during the fourth quarter worth $79,000. Royal Bank of Canada raised its holdings in IDEAYA Biosciences by 82.7% during the third quarter. Royal Bank of Canada now owns 3,524 shares of the company’s stock valued at $90,000 after buying an additional 1,595 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in IDEAYA Biosciences by 12.7% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,416 shares of the company’s stock valued at $117,000 after buying an additional 1,171 shares in the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.

About IDEAYA Biosciences (Get Rating)

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, focuses on the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. The company's lead product candidates include IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase I clinical trial for patients with solid tumors having methylthioadenosine phosphorylase deletions; and IDE196, a protein kinase C inhibitor that is in Phase I/II clinical trial for genetically defined cancers having GNAQ or GNA11 gene mutations.

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