IDEAYA Biosciences (NASDAQ:IDYA) Announces Earnings Results

IDEAYA Biosciences (NASDAQ:IDYA) announced its quarterly earnings data on Tuesday. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.04), Zacks reports. IDEAYA Biosciences had a negative return on equity of 16.73% and a negative net margin of 75.93%. The business had revenue of $10.24 million for the quarter, compared to analyst estimates of $7.58 million. During the same quarter in the previous year, the business posted $1.33 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ IDYA traded up $0.01 during mid-day trading on Tuesday, reaching $31.64. 306,321 shares of the company traded hands, compared to its average volume of 1,019,475. The company’s fifty day moving average is $37.08 and its two-hundred day moving average is $34.08. IDEAYA Biosciences has a fifty-two week low of $26.81 and a fifty-two week high of $42.68. The stock has a market cap of $2.78 billion, a PE ratio of -16.32 and a beta of -0.04.

Wall Street Analyst Weigh In

Several analysts recently commented on IDYA shares. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of IDEAYA Biosciences in a research note on Thursday, October 15th. Wedbush upped their target price on IDEAYA Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Citizens Jmp reaffirmed a “market outperform” rating and set a $42.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, September 1st. Finally, Royal Bank Of Canada reduced their price target on IDEAYA Biosciences from $53.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.55.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro Hata sold 26,338 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $37.41, for a total transaction of $985,304.58. Following the transaction, the chief executive officer owned 690,695 shares in the company, valued at $25,838,899.95. This trade represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.70% of the stock is owned by insiders.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc (NASDAQ:IDYA) is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company’s pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.