IDEAYA Biosciences (NASDAQ:IDYA) Announces Earnings Results, Misses Expectations By $0.82 EPS

IDEAYA Biosciences (NASDAQ:IDYA) posted its quarterly earnings data on Thursday. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.82), Zacks reports. The company had revenue of $7.00 million during the quarter, compared to analyst estimates of $7.00 million.

IDEAYA Biosciences Trading Up 1.2 %

Shares of NASDAQ:IDYA traded up $0.24 during mid-day trading on Friday, reaching $21.00. The company had a trading volume of 1,427,577 shares, compared to its average volume of 787,501. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -9.01 and a beta of 0.82. The company’s 50-day moving average price is $24.36 and its 200-day moving average price is $29.97. IDEAYA Biosciences has a one year low of $20.63 and a one year high of $47.74.

Analyst Upgrades and Downgrades

IDYA has been the subject of a number of recent research reports. UBS Group initiated coverage on IDEAYA Biosciences in a report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective for the company. Leerink Partnrs downgraded IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Leerink Partners downgraded IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $41.00 to $27.00 in a report on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and set a $52.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, December 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.58.

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.