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Celebrations may be in order for IDEAYA Biosciences, Inc. (NASDAQ:IDYA) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The analysts have sharply increased their revenue numbers, with a view that IDEAYA Biosciences will make substantially more sales than they'd previously expected.
Following the upgrade, the most recent consensus for IDEAYA Biosciences from its seven analysts is for revenues of US$40m in 2021 which, if met, would be a huge 341% increase on its sales over the past 12 months. Losses are predicted to fall substantially, shrinking 28% to US$1.29. Yet prior to the latest estimates, the analysts had been forecasting revenues of US$20m and losses of US$1.31 per share in 2021. So there's definitely been a change in sentiment in this update, with the analysts upgrading next year's revenue estimates, while at the same time holding losses per share steady.
The Bottom Line
The highlight for us was that the consensus reduced its estimated losses next year, perhaps suggesting IDEAYA Biosciences is moving incrementally towards profitability. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at IDEAYA Biosciences.
These earnings upgrades look like a sterling endorsement, but before diving in - you should know that we've spotted 3 potential flags with IDEAYA Biosciences, including dilutive stock issuance over the past year. For more information, you can click through to our platform to learn more about this and the 2 other flags we've identified .
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This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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