IDEAYA Biosciences (NASDAQ:IDYA) Issues Earnings Results

IDEAYA Biosciences (NASDAQ:IDYA) posted its earnings results on Tuesday. The company reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.09, FiscalAI reports. The company had revenue of $21.75 million for the quarter, compared to analyst estimates of $5.95 million. IDEAYA Biosciences’s quarterly revenue was up 55.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.49) earnings per share.

IDEAYA Biosciences Price Performance

IDYA opened at $30.92 on Thursday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -23.60 and a beta of 0.10. The business’s 50-day moving average price is $34.25 and its two-hundred day moving average price is $30.44. IDEAYA Biosciences has a 1 year low of $13.45 and a 1 year high of $39.28.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of IDEAYA Biosciences from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. UBS Group initiated coverage on shares of IDEAYA Biosciences in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target on the stock. Wedbush upped their price objective on shares of IDEAYA Biosciences from $49.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup reaffirmed a “buy” rating on shares of IDEAYA Biosciences in a research note on Thursday. Finally, Wall Street Zen raised IDEAYA Biosciences from a “hold” rating to a “buy” rating in a research note on Sunday, November 9th. Fifteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average price target of $47.60.

Institutional Investors Weigh In On IDEAYA Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its stake in shares of IDEAYA Biosciences by 16.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after acquiring an additional 436 shares in the last quarter. Russell Investments Group Ltd. grew its position in IDEAYA Biosciences by 5.2% in the fourth quarter. Russell Investments Group Ltd. now owns 9,683 shares of the company’s stock valued at $335,000 after purchasing an additional 476 shares in the last quarter. Parallel Advisors LLC increased its stake in IDEAYA Biosciences by 23.4% in the 4th quarter. Parallel Advisors LLC now owns 3,847 shares of the company’s stock valued at $133,000 after buying an additional 730 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in IDEAYA Biosciences by 7.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company’s stock worth $257,000 after buying an additional 881 shares in the last quarter. Finally, Mariner LLC boosted its stake in shares of IDEAYA Biosciences by 12.7% during the 4th quarter. Mariner LLC now owns 10,772 shares of the company’s stock worth $372,000 after buying an additional 1,218 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.