IDEAYA Biosciences (NASDAQ:IDYA) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

IDEAYA Biosciences (NASDAQ:IDYA) released 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%. IDEAYA Biosciences’s revenue was down 100.0% on a year-over-year basis. During the same period last year, the company posted ($0.49) earnings per share.

IDEAYA Biosciences Stock Performance

NASDAQ:IDYA traded down $1.64 during mid-day trading on Wednesday, reaching $41.11. 77,895 shares of the company’s stock were exchanged, compared to its average volume of 829,204. IDEAYA Biosciences has a one year low of $19.01 and a one year high of $47.74. The business’s fifty day simple moving average is $42.63 and its two-hundred day simple moving average is $38.38. The firm has a market capitalization of $3.07 billion, a PE ratio of -20.95 and a beta of 0.83.

Insider Buying and Selling at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 23,557 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $45.54, for a total transaction of $1,072,785.78. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Yujiro S. Hata sold 23,557 shares of the company’s stock in a transaction that occurred 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 owns 677,887 shares of the company’s stock, valued at approximately $30,870,973.98. The sale 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 IDEAYA Biosciences stock in a transaction that occurred on 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 transaction, the insider now directly owns 24,531 shares in the company, valued at $1,128,916.62. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IDYA shares. Citigroup upped their price objective on IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Royal Bank of Canada upped their target price on shares of IDEAYA Biosciences from $43.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Leerink Partnrs reiterated an “outperform” rating on shares of IDEAYA Biosciences in a report on Friday, February 23rd. The Goldman Sachs Group boosted their target price on IDEAYA Biosciences from $36.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of IDEAYA Biosciences from $51.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $47.50.

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.