IDEAYA Biosciences (NASDAQ:IDYA) Releases Earnings Results, Beats Estimates By $0.03 EPS

IDEAYA Biosciences (NASDAQ:IDYA) released its quarterly earnings data on Monday. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.03, Briefing.com reports. During the same period last year, the business earned ($0.46) earnings per share.

IDEAYA Biosciences Stock Performance

Shares of NASDAQ IDYA opened at $30.00 on Tuesday. The firm’s 50-day simple moving average is $32.95 and its 200 day simple moving average is $36.89. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -13.70 and a beta of 0.86. IDEAYA Biosciences has a fifty-two week low of $27.52 and a fifty-two week high of $47.74.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BTIG Research raised their target price on shares of IDEAYA Biosciences from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Cantor Fitzgerald assumed coverage on IDEAYA Biosciences in a research note on Tuesday, October 15th. They set an “overweight” rating on the stock. JPMorgan Chase & Co. dropped their price objective on shares of IDEAYA Biosciences from $69.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Citigroup reduced their target price on shares of IDEAYA Biosciences from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $53.00 price target on shares of IDEAYA Biosciences in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “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.