IDEAYA Biosciences (NASDAQ:IDYA) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

IDEAYA Biosciences (NASDAQ:IDYA) released its earnings results on Tuesday. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.04), Zacks reports. IDEAYA Biosciences had a negative net margin of 75.93% and a negative return on equity of 16.73%. The company had revenue of $10.24 million during the quarter, compared to analysts’ expectations of $7.58 million. During the same quarter last year, the business posted $1.33 earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis.

IDEAYA Biosciences Trading Up 1.5%

NASDAQ:IDYA traded up $0.47 during midday trading on Wednesday, hitting $31.80. 264,591 shares of the company were exchanged, compared to its average volume of 1,023,616. IDEAYA Biosciences has a fifty-two week low of $26.81 and a fifty-two week high of $42.68. The company has a market capitalization of $2.79 billion, a PE ratio of -16.41 and a beta of 0.08. The company has a fifty day simple moving average of $36.91 and a 200 day simple moving average of $34.05.

Insider Transactions at IDEAYA Biosciences

In other IDEAYA Biosciences news, CEO Yujiro Hata sold 26,338 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $37.41, for a total value of $985,304.58. Following the completion of the transaction, the chief executive officer owned 690,695 shares in the company, valued at $25,838,899.95. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

IDYA has been the topic of several recent research reports. Wall Street Zen downgraded IDEAYA Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 22nd. Mizuho set a $44.00 price objective on IDEAYA Biosciences in a research report on Thursday, October 29th. William Blair assumed coverage on shares of IDEAYA Biosciences in a research note on Friday, October 16th. They set an “outperform” rating on the stock. Finally, Citigroup restated a “market outperform” rating on shares of IDEAYA Biosciences in a research note on Monday, October 19th. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.18.

Key Headlines Impacting IDEAYA Biosciences

Here are the key news stories impacting IDEAYA Biosciences this week:

• Positive Sentiment: Wedbush raised its price target to $63 from $60 and reiterated an “outperform” rating, implying substantial upside from the cited $32.11 share price. Wedbush ratings
• Positive Sentiment: IDEAYA reported Q3 revenue of $10.24 million, above the $7.58 million estimate and up 14.6% year over year. Its business update also highlighted completed NDA submission for darovasertib plus crizotinib in metastatic uveal melanoma, encouraging IDE849 trial data, and $1.15 billion in cash and securities with runway into 2030. Q3 results and business update
• Neutral Sentiment: The company announced it will participate in investor-relations events in November; the announcement itself did not include new financial or clinical results. Investor-relations events announcement
• Negative Sentiment: Truist lowered its price target to $57, a less favorable analyst update even though the new target remains above the cited share price. Truist price-target change
• Negative Sentiment: IDEAYA posted a Q3 loss of $1.22 per share, narrowly worse than the $1.18 consensus estimate cited in the supplied results. The company continues to report substantial operating losses, underscoring its reliance on pipeline progress and future commercialization. Q3 results and business update

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc (NASDAQ:IDYA) is a biotechnology company focused on discovering and developing precision medicines for cancer. Its research emphasizes synthetic lethality, biomarker-driven drug discovery and molecularly defined patient populations, with the goal of matching targeted therapies to specific genetic alterations in tumors.

The company’s pipeline includes darovasertib, an investigational protein kinase C inhibitor being studied primarily for genetically defined cancers, including metastatic uveal melanoma.