IDEAYA Biosciences (NASDAQ:IDYA) Issues Quarterly Earnings Results, Misses Estimates 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 the consensus estimate 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 period last year, the business earned ($0.49) EPS. The company’s quarterly revenue was down 100.0% compared to the same quarter last year.

IDEAYA Biosciences Price Performance

NASDAQ IDYA traded up $0.10 during trading hours on Friday, reaching $40.74. The company’s stock had a trading volume of 16,479 shares, compared to its average volume of 820,862. IDEAYA Biosciences has a 1-year low of $20.68 and a 1-year high of $47.74. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of -20.22 and a beta of 0.83. The company’s 50-day moving average is $42.57 and its two-hundred day moving average is $38.40.

Analysts Set New Price Targets

Several research firms have recently issued reports on IDYA. BTIG Research initiated coverage on shares of IDEAYA Biosciences in a report on Friday, March 8th. They set a “buy” rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of IDEAYA Biosciences from $51.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Citigroup upped their target price on IDEAYA Biosciences from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Leerink Partnrs reaffirmed an “outperform” rating on shares of IDEAYA Biosciences in a research report on Friday, February 23rd. Finally, Royal Bank of Canada increased their price objective on IDEAYA Biosciences from $43.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $47.50.

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.