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

IDEAYA Biosciences (NASDAQ:IDYA) announced its earnings results on Tuesday. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.14), Briefing.com reports. IDEAYA Biosciences had a negative net margin of 483.05% and a negative return on equity of 20.09%. During the same quarter in the prior year, the business earned ($0.50) EPS.

IDEAYA Biosciences Trading Up 1.0 %

IDEAYA Biosciences stock traded up $0.36 during trading hours on Friday, hitting $37.94. 426,384 shares of the stock traded hands, compared to its average volume of 910,336. IDEAYA Biosciences has a one year low of $23.41 and a one year high of $47.74. The company has a market cap of $2.87 billion, a PE ratio of -18.70 and a beta of 0.87. The firm’s 50-day moving average price is $38.56 and its two-hundred day moving average price is $41.23.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Oppenheimer lowered their price objective on shares of IDEAYA Biosciences from $60.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday. BTIG Research boosted their price objective on IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Mizuho initiated coverage on shares of IDEAYA Biosciences in a report on Monday, July 8th. They issued an “outperform” rating and a $50.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $54.00 price target on shares of IDEAYA Biosciences in a report on Wednesday. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $55.90.

Insider Activity

In other IDEAYA Biosciences news, CEO Yujiro S. Hata sold 34,433 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total value of $1,439,643.73. Following the completion of the transaction, the chief executive officer now owns 677,887 shares in the company, valued at $28,342,455.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Michael Anthony White sold 28,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $36.24, for a total value 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 34,433 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $41.81, for a total value of $1,439,643.73. Following the completion of the sale, the chief executive officer now owns 677,887 shares in the company, valued at approximately $28,342,455.47. 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 owned by company insiders.

IDEAYA Biosciences Company Profile

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.