IDEAYA Biosciences (NASDAQ:IDYA) Announces Earnings Results, Beats Estimates By $1.45 EPS

IDEAYA Biosciences (NASDAQ:IDYA) posted its quarterly earnings results on Monday. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $1.45, Zacks reports.

IDEAYA Biosciences Trading Down 1.6%

Shares of NASDAQ IDYA opened at $31.36 on Tuesday. The stock has a 50 day simple moving average of $27.10 and a 200-day simple moving average of $23.45. The company has a market cap of $2.75 billion, a PE ratio of -8.27 and a beta of 0.14. IDEAYA Biosciences has a 12-month low of $13.45 and a 12-month high of $33.64.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IDYA shares. Citizens Jmp started coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They issued a “mkt outperform” rating and a $41.00 target price on the stock. Barclays started coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They issued an “overweight” rating and a $40.00 target price on the stock. JMP Securities started coverage on shares of IDEAYA Biosciences in a report on Thursday, September 4th. They issued a “market outperform” rating and a $41.00 target price on the stock. Royal Bank Of Canada raised their target price on shares of IDEAYA Biosciences from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Finally, Stephens reissued an “overweight” rating and issued a $45.00 target price on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Fourteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.13.

Hedge Funds Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. boosted its position in shares of IDEAYA Biosciences by 16.1% during the second quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after buying an additional 436 shares during the period. E Fund Management Co. Ltd. raised its holdings in IDEAYA Biosciences by 7.8% during the second quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company’s stock worth $257,000 after purchasing an additional 881 shares in the last quarter. California State Teachers Retirement System raised its holdings in IDEAYA Biosciences by 1.5% during the second quarter. California State Teachers Retirement System now owns 82,532 shares of the company’s stock worth $1,735,000 after purchasing an additional 1,254 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in IDEAYA Biosciences by 10.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 17,416 shares of the company’s stock worth $367,000 after purchasing an additional 1,609 shares in the last quarter. Finally, Snowden Capital Advisors LLC raised its holdings in IDEAYA Biosciences by 20.6% during the second quarter. Snowden Capital Advisors LLC now owns 13,631 shares of the company’s stock worth $287,000 after purchasing an additional 2,328 shares in the last quarter. 98.29% of the stock is currently owned by institutional investors and hedge funds.

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.