IDEAYA Biosciences (NASDAQ:IDYA) Announces Quarterly Earnings Results

IDEAYA Biosciences (NASDAQ:IDYA) announced its quarterly earnings data on Thursday. The company reported ($1.49) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.82), Zacks reports. The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $7.00 million.

IDEAYA Biosciences Price Performance

IDYA stock traded up $0.24 during midday trading on Friday, hitting $21.00. The stock had a trading volume of 1,427,577 shares, compared to its average volume of 787,501. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -9.01 and a beta of 0.82. The business has a 50-day moving average of $24.36 and a two-hundred day moving average of $29.97. IDEAYA Biosciences has a 52-week low of $20.63 and a 52-week high of $47.74.

Analysts Set New Price Targets

IDYA has been the subject of several recent research reports. UBS Group initiated coverage on IDEAYA Biosciences in a research report on Thursday, October 24th. They issued a “buy” rating and a $50.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of IDEAYA Biosciences in a research report on Wednesday, January 15th. Oppenheimer reiterated an “outperform” rating and issued a $53.00 price objective on shares of IDEAYA Biosciences in a research report on Tuesday, October 29th. Wedbush reissued an “outperform” rating and set a $52.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, December 17th. Finally, Stephens reissued an “overweight” rating and set a $50.00 target price on shares of IDEAYA Biosciences in a research note on Friday. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.58.

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.