IDEAYA Biosciences (NASDAQ:IDYA) Posts Quarterly Earnings Results, Misses Expectations By $0.14 EPS

IDEAYA Biosciences (NASDAQ:IDYA) released its quarterly earnings data on Tuesday. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14), Briefing.com reports. IDEAYA Biosciences had a negative return on equity of 20.09% and a negative net margin of 483.05%. During the same quarter last year, the firm earned ($0.50) EPS.

IDEAYA Biosciences Stock Up 1.3 %

IDYA stock traded up $0.49 during mid-day trading on Friday, reaching $38.07. 309,611 shares of the company traded hands, compared to its average volume of 909,573. The firm’s 50 day moving average price is $38.56 and its 200 day moving average price is $41.23. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -18.70 and a beta of 0.87. IDEAYA Biosciences has a fifty-two week low of $23.41 and a fifty-two week high of $47.74.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Mizuho assumed coverage on IDEAYA Biosciences in a research note on Monday, July 8th. They issued an “outperform” rating and a $50.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price target on shares of IDEAYA Biosciences in a research note on Wednesday. Wedbush restated an “outperform” rating and set a $54.00 price target on shares of IDEAYA Biosciences in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $63.00 price target on shares of IDEAYA Biosciences in a research report on Monday, July 8th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $55.90.

Insider Transactions at IDEAYA Biosciences

In related news, insider Michael Anthony White sold 28,500 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $36.24, for a total value of $1,032,840.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Michael Anthony White sold 28,500 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total transaction of $1,032,840.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Yujiro S. Hata sold 56,711 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.61, for a total value of $2,359,744.71. Following the completion of the sale, the chief executive officer now directly owns 677,887 shares in the company, valued at approximately $28,206,878.07. The disclosure for this sale can be found here. Insiders sold a total of 119,644 shares of company stock worth $4,832,228 in the last quarter. 3.50% of the stock is currently owned by corporate 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.