IDEAYA Biosciences (NASDAQ:IDYA) Announces Earnings Results, Beats Expectations By $0.09 EPS

IDEAYA Biosciences (NASDAQ:IDYA) announced its earnings results on Tuesday. The company reported ($0.94) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.09, FiscalAI reports. The company had revenue of $10.88 million for the quarter, compared to analyst estimates of $5.95 million.

IDEAYA Biosciences Price Performance

IDYA stock opened at $30.27 on Tuesday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -16.27 and a beta of 0.10. The business’s fifty day moving average price is $34.37 and its two-hundred day moving average price is $30.39. IDEAYA Biosciences has a fifty-two week low of $13.45 and a fifty-two week high of $39.28.

Wall Street Analysts Forecast Growth

IDYA has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IDEAYA Biosciences in a research report on Thursday, January 22nd. UBS Group started coverage on IDEAYA Biosciences in a research note on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price target on the stock. Mizuho upped their price objective on IDEAYA Biosciences from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. The Goldman Sachs Group lifted their target price on IDEAYA Biosciences from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Finally, New Street Research set a $30.00 target price on IDEAYA Biosciences in a research note on Tuesday, October 21st. Fifteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, IDEAYA Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.60.

Hedge Funds Weigh In On IDEAYA Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. grew its holdings in shares of IDEAYA Biosciences by 16.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 3,141 shares of the company’s stock worth $66,000 after purchasing an additional 436 shares in the last quarter. Parallel Advisors LLC lifted its position in IDEAYA Biosciences by 23.4% during the fourth quarter. Parallel Advisors LLC now owns 3,847 shares of the company’s stock worth $133,000 after purchasing an additional 730 shares during the period. Osaic Holdings Inc. lifted its position in IDEAYA Biosciences by 59.1% during the second quarter. Osaic Holdings Inc. now owns 7,443 shares of the company’s stock worth $148,000 after purchasing an additional 2,764 shares during the period. Tower Research Capital LLC TRC grew its stake in IDEAYA Biosciences by 677.3% during the second quarter. Tower Research Capital LLC TRC now owns 9,538 shares of the company’s stock worth $200,000 after buying an additional 8,311 shares in the last quarter. Finally, Xponance LLC bought a new position in IDEAYA Biosciences in the 4th quarter valued at about $218,000. 98.29% of the stock is owned by institutional investors and hedge funds.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences is a clinical-stage precision oncology company dedicated to the discovery and development of novel therapies that exploit synthetic lethality in cancer cells. By targeting key DNA damage response pathways, the company aims to selectively kill tumor cells exhibiting specific genetic vulnerabilities while sparing healthy tissue. IDEAYA’s pipeline includes small-molecule inhibitors designed to address underserved tumor types, and its lead programs are advancing through Phase 1 and Phase 2 clinical trials in multiple oncology indications.

Central to IDEAYA’s approach is its Modular Approach to Precision (MAP) platform, which integrates proprietary genomic and functional screening technologies to identify critical cancer-specific dependencies.