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

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

IDEAYA Biosciences Price Performance

IDYA traded up $0.83 on Wednesday, hitting $30.41. 1,166,378 shares of the company were exchanged, compared to its average volume of 724,792. The firm has a fifty day simple moving average of $32.57 and a two-hundred day simple moving average of $36.79. IDEAYA Biosciences has a 12 month low of $27.52 and a 12 month high of $47.74.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IDYA shares. Wedbush reaffirmed an “outperform” rating and issued a $52.00 price target on shares of IDEAYA Biosciences in a report on Monday. Leerink Partnrs lowered shares of IDEAYA Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Leerink Partners lowered shares of IDEAYA Biosciences from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $41.00 to $27.00 in a report on Tuesday. 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of IDEAYA Biosciences in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average 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.