IDEAYA Biosciences (NASDAQ:IDYA) Posts Quarterly Earnings Results

IDEAYA Biosciences (NASDAQ:IDYA) posted its quarterly earnings results on Tuesday. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02), Briefing.com reports. IDEAYA Biosciences had a negative return on equity of 23.00% and a negative net margin of 483.05%. During the same quarter last year, the firm earned ($0.49) EPS. The company’s quarterly revenue was down 100.0% compared to the same quarter last year.

IDEAYA Biosciences Stock Performance

IDEAYA Biosciences stock traded down $1.64 during trading on Wednesday, reaching $41.11. The company had a trading volume of 77,895 shares, compared to its average volume of 829,204. IDEAYA Biosciences has a 12-month low of $19.01 and a 12-month high of $47.74. The stock’s 50 day moving average price is $42.63 and its two-hundred day moving average price is $38.38. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -20.95 and a beta of 0.83.

Wall Street Analysts Forecast Growth

IDYA has been the subject of a number of research analyst reports. Capital One Financial reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a report on Thursday, February 22nd. Citigroup lifted their price objective on IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. upped their target price on IDEAYA Biosciences from $51.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. BTIG Research initiated coverage on IDEAYA Biosciences in a research note on Friday, March 8th. They set a “buy” rating and a $55.00 price target for the company. Finally, Leerink Partnrs reissued an “outperform” rating on shares of IDEAYA Biosciences in a research note on Friday, February 23rd. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, IDEAYA Biosciences currently has an average rating of “Buy” and an average price target of $47.50.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 23,557 shares of IDEAYA Biosciences stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $45.54, for a total value of $1,072,785.78. Following the transaction, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $30,870,973.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Yujiro S. Hata sold 23,557 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares of the company’s stock, valued at approximately $30,870,973.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Briseno Andres Ruiz sold 2,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $46.02, for a total value of $92,040.00. Following the completion of the sale, the insider now owns 24,531 shares of the company’s stock, valued at approximately $1,128,916.62. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.

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.