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

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

IDEAYA Biosciences Stock Performance

Shares of IDYA opened at $30.00 on Tuesday. IDEAYA Biosciences has a fifty-two week low of $27.52 and a fifty-two week high of $47.74. The company has a market capitalization of $2.53 billion, a PE ratio of -13.70 and a beta of 0.86. The stock has a fifty day moving average of $32.95 and a two-hundred day moving average of $36.89.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IDYA. Mizuho initiated coverage on shares of IDEAYA Biosciences in a research note on Monday, July 8th. They set an “outperform” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $52.00 price objective on shares of IDEAYA Biosciences in a report on Monday. UBS Group assumed coverage on shares of IDEAYA Biosciences in a research report on Thursday, October 24th. They set a “buy” rating and a $50.00 target price on the stock. Finally, BTIG Research boosted their price objective on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $53.08.

IDEAYA Biosciences Company Profile

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.