Published on 9 Nov 2023 on Simply Wall St. via Yahoo Finance
Analysts' Revenue Estimates For IDEAYA Biosciences, Inc. (NASDAQ:IDYA) Are Surging Higher
IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shareholders will have a reason to smile today, with the analysts making substantial upgrades to next year's forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects. Investor sentiment seems to be improving too, with the share price up 4.2% to US$30.92 over the past 7 days. Could this big upgrade push the stock even higher?
Following the upgrade, the consensus from eleven analysts covering IDEAYA Biosciences is for revenues of US$22m in 2024, implying a measurable 6.4% decline in sales compared to the last 12 months. Per-share losses are expected to explode, reaching US$2.43 per share. Yet before this consensus update, the analysts had been forecasting revenues of US$19m and losses of US$2.50 per share in 2024. So there's been quite a change-up of views after the recent consensus updates, with the analysts making a sizeable increase to their revenue forecasts while also reducing the estimated loss as the business grows towards breakeven.
Check out our latest analysis for IDEAYA Biosciences