IDEAYA Biosciences (NASDAQ:IDYA) Announces Quarterly Earnings Results

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

IDEAYA Biosciences Trading Down 3.1 %

IDEAYA Biosciences stock traded down $1.34 on Wednesday, reaching $41.41. 550,931 shares of the stock were exchanged, compared to its average volume of 834,586. The firm has a fifty day moving average price of $42.63 and a two-hundred day moving average price of $38.38. IDEAYA Biosciences has a twelve month low of $19.01 and a twelve month high of $47.74. The stock has a market cap of $3.10 billion, a PE ratio of -21.02 and a beta of 0.83.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of IDEAYA Biosciences in a research note on Friday, March 8th. They issued a "buy" rating and a $55.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of IDEAYA Biosciences from $36.00 to $53.00 and gave the company a "buy" rating in a research note on Thursday, January 25th. Wedbush reaffirmed an "outperform" rating and issued a $52.00 price objective on shares of IDEAYA Biosciences in a research note on Wednesday. Leerink Partnrs reaffirmed an "outperform" rating on shares of IDEAYA Biosciences in a research note on Friday, February 23rd. Finally, Royal Bank of Canada lifted their price objective on shares of IDEAYA Biosciences from $43.00 to $53.00 and gave the company an "outperform" rating in a research note on Wednesday, February 21st. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, IDEAYA Biosciences has a consensus rating of "Buy" and an average target price of $47.50.

Insider Transactions at IDEAYA Biosciences

In other news, insider Briseno Andres Ruiz sold 2,000 shares of the business's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $46.02, for a total transaction of $92,040.00. Following the transaction, the insider now owns 24,531 shares in the company, valued at approximately $1,128,916.62. The transaction was disclosed in a legal filing with the SEC, 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 dated Friday, February 9th. The shares were sold at an average price of $45.54, for a total value of $1,072,785.78. Following the sale, the chief executive officer now owns 677,887 shares of the company's stock, valued at $30,870,973.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Briseno Andres Ruiz sold 2,000 shares of the company's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $46.02, for a total transaction of $92,040.00. Following the completion of the sale, the insider now directly owns 24,531 shares in the company, valued at approximately $1,128,916.62. The disclosure for this sale can be found here. Insiders own 3.50% of the company's stock.

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.