Acacia Research Beats Estimates as IDEAYA Biosciences Receives Lower Price Target

Acacia Research (NASDAQ:ACTG) posted quarterly earnings of $0.13 per share, surpassing analysts' consensus estimate of a loss of $0.09. The company generated $114.56 million in revenue, far exceeding the $49.50 million expected, and ended the quarter with $334.6 million in cash and no parent‑company debt, giving it flexibility for acquisitions. Management highlighted an active acquisition pipeline and noted a strong performance from its Benchmark segment and licensing revenue. The stock traded around $4.54 during the day.

IDEAYA Biosciences (NASDAQ:IDYA) saw its price target reduced by Truist Financial to $59 from $63, maintaining a "buy" rating and suggesting a potential upside of over 60% from the current price. The company’s stock was at $36.34, with a market capitalization of $3.19 billion. Recent earnings released on August 10 reported a loss of $1.22 per share on $8.86 million revenue, missing consensus estimates. Analysts from multiple firms have mixed ratings, ranging from buy to hold.