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

IDEAYA Biosciences (NASDAQ:IDYA) posted its earnings results on Tuesday. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.02), Briefing.com reports. IDEAYA Biosciences had a negative return on equity of 23.00% and a negative net margin of 483.05%. During the same period in the previous year, the company earned ($0.49) EPS. IDEAYA Biosciences’s revenue was down 100.0% on a year-over-year basis.

IDEAYA Biosciences Stock Down 3.5 %

Shares of NASDAQ IDYA traded down $1.48 during trading on Wednesday, hitting $41.27. 55,495 shares of the company traded hands, compared to its average volume of 828,932. The firm has a market capitalization of $3.09 billion, a P/E ratio of -21.27 and a beta of 0.83. The company has a 50-day moving average price of $42.63 and a 200-day moving average price of $38.38. IDEAYA Biosciences has a 1 year low of $19.01 and a 1 year high of $47.74.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of IDEAYA Biosciences from $40.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Leerink Partnrs reissued an “outperform” rating on shares of IDEAYA Biosciences in a research note on Friday, February 23rd. The Goldman Sachs Group increased their target price on IDEAYA Biosciences from $36.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Capital One Financial reissued an “overweight” rating on shares of IDEAYA Biosciences in a report on Thursday, February 22nd. Finally, BTIG Research assumed coverage on IDEAYA Biosciences in a research note on Friday, March 8th. They set a “buy” rating and a $55.00 price objective on the stock. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $47.50.

Insider Activity at IDEAYA Biosciences

In other news, CEO Yujiro S. Hata sold 23,557 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $45.54, for a total value of $1,072,785.78. Following the transaction, the chief executive officer now directly owns 677,887 shares in the company, valued at approximately $30,870,973.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Yujiro S. Hata sold 23,557 shares of the 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Briseno Andres Ruiz sold 2,000 shares of the firm’s 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 owns 24,531 shares in the company, valued at approximately $1,128,916.62. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

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.