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

IDEAYA Biosciences (NASDAQ:IDYA) announced 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%. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.49) earnings per share.

IDEAYA Biosciences Trading Down 3.1 %

Shares of IDYA stock opened at $41.41 on Thursday. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -21.02 and a beta of 0.83. IDEAYA Biosciences has a 1-year low of $19.01 and a 1-year high of $47.74. The stock’s fifty day simple moving average is $42.63 and its 200-day simple moving average is $38.38.

Wall Street Analysts Forecast Growth

IDYA has been the subject of several recent analyst reports. Leerink Partnrs reiterated an “outperform” rating on shares of IDEAYA Biosciences in a report on Friday, February 23rd. Capital One Financial reaffirmed an “overweight” rating on shares of IDEAYA Biosciences in a research note on Thursday, February 22nd. Citigroup lifted their price target on IDEAYA Biosciences from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group upped their price objective on IDEAYA Biosciences from $36.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada raised their target price on IDEAYA Biosciences from $43.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $47.50.

Insider Buying and Selling

In other IDEAYA Biosciences news, insider Briseno Andres Ruiz sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other IDEAYA Biosciences news, insider Briseno Andres Ruiz sold 2,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $1,128,916.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Yujiro S. Hata sold 23,557 shares of the business’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 transaction, the chief executive officer now owns 677,887 shares in the company, valued at $30,870,973.98. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

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.