IDEAYA Biosciences (NASDAQ:IDYA) Posts Earnings Results, Beats Expectations By $0.03 EPS

IDEAYA Biosciences (NASDAQ:IDYA) posted its quarterly earnings results on Monday. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.03, Briefing.com reports. During the same period in the previous year, the company earned ($0.46) EPS.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ:IDYA traded up $0.76 during midday trading on Wednesday, reaching $30.34. The company’s stock had a trading volume of 170,236 shares, compared to its average volume of 848,195. The firm has a 50 day moving average price of $32.76 and a two-hundred day moving average price of $36.84. IDEAYA Biosciences has a fifty-two week low of $27.52 and a fifty-two week high of $47.74. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -12.70 and a beta of 0.86.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IDYA shares. Leerink Partners lowered IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $41.00 to $27.00 in a report on Tuesday. Citigroup cut their price target on IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Lifesci Capital raised IDEAYA Biosciences to a “strong-buy” rating in a research note on Monday, July 29th. Stifel Nicolaus increased their target price on IDEAYA Biosciences from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, BTIG Research increased their price target on IDEAYA Biosciences from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $53.08.

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.