Thu Sep 26 12:58:36 UTC 2024: ## IDEAYA Biosciences’ Earnings Estimates Lowered, Stock Still Outperforms

**New York, NY -** Wedbush analysts have lowered their earnings per share (EPS) estimates for IDEAYA Biosciences, Inc. (NASDAQ: IDYA) for the fiscal year 2025. Analyst R. Driscoll now projects a loss of $3.49 per share, down from their previous estimate of $3.47.

Despite the lowered estimates, Wedbush maintains an “Outperform” rating on IDEAYA Biosciences and a $52.00 target price for the stock.

The company reported a quarterly loss of $0.68 per share on August 6th, missing analyst expectations by $0.14. This comes after a loss of $0.50 per share in the same quarter last year.

IDEAYA Biosciences is a precision medicine oncology company developing targeted therapeutics for patients with genetically defined cancers. The company has several promising candidates in clinical trials, including IDE196, IDE397, IDE161, and GSK101.

Despite the recent earnings miss and lowered estimates, Wedbush’s continued “Outperform” rating suggests optimism about the company’s long-term prospects.

The company’s stock opened at $30.37 on Thursday, with a market capitalization of $2.57 billion.

**Institutional investors remain invested in the company, with several large investors modifying their holdings in recent months. This includes increases by Dimensional Fund Advisors LP, Trexquant Investment LP, Franklin Resources Inc., and TD Asset Management Inc.**

**While the company faces challenges, its focus on precision medicine and its pipeline of promising drugs suggest that IDEAYA Biosciences remains a player to watch in the oncology space.**

Read More