IDEAYA Biosciences (NASDAQ:IDYA) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

IDEAYA Biosciences (NASDAQ:IDYA) released its quarterly earnings results on Monday. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03, Briefing.com reports. During the same period in the previous year, the firm posted ($0.46) earnings per share.

IDEAYA Biosciences Stock Down 0.2 %

Shares of NASDAQ:IDYA traded down $0.06 on Thursday, reaching $30.35. 61,332 shares of the company’s stock were exchanged, compared to its average volume of 849,104. The business’s 50-day moving average is $32.57 and its two-hundred day moving average is $36.79. IDEAYA Biosciences has a fifty-two week low of $27.52 and a fifty-two week high of $47.74. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -13.05 and a beta of 0.86.

Wall Street Analyst Weigh In

IDYA has been the subject of several analyst reports. Leerink Partners downgraded shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $41.00 to $27.00 in a research note on Tuesday. Cantor Fitzgerald began coverage on IDEAYA Biosciences in a research note on Tuesday, October 15th. They set an “overweight” rating for the company. UBS Group initiated coverage on IDEAYA Biosciences in a research note on Thursday, October 24th. They issued a “buy” rating and a $50.00 price target on the stock. Oppenheimer restated an “outperform” rating and set a $53.00 price objective on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. cut their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, IDEAYA Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $53.08.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.