IDEAYA Biosciences (NASDAQ:IDYA) Releases Earnings Results, Beats Expectations By $1.45 EPS

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

IDEAYA Biosciences Trading Down 1.0%

NASDAQ IDYA opened at $31.06 on Tuesday. The stock has a 50-day moving average of $27.10 and a 200-day moving average of $23.45. IDEAYA Biosciences has a 1-year low of $13.45 and a 1-year high of $33.64. The firm has a market cap of $2.72 billion, a PE ratio of -8.14 and a beta of 0.14.

Wall Street Analysts Forecast Growth

IDYA has been the subject of several analyst reports. BTIG Research restated a “buy” rating and issued a $62.00 target price on shares of IDEAYA Biosciences in a research report on Tuesday, October 21st. JPMorgan Chase & Co. raised their target price on IDEAYA Biosciences from $74.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Mizuho upped their target price on IDEAYA Biosciences from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Cantor Fitzgerald restated an “overweight” rating on shares of IDEAYA Biosciences in a report on Tuesday, September 9th. Finally, Citizens Jmp initiated coverage on shares of IDEAYA Biosciences in a research report on Thursday, September 4th. They set a “mkt outperform” rating and a $41.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, IDEAYA Biosciences has an average rating of “Moderate Buy” and an average target price of $44.13.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IDYA. Daiwa Securities Group Inc. boosted 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 valued at $66,000 after buying an additional 436 shares in the last quarter. E Fund Management Co. Ltd. increased its position in IDEAYA Biosciences by 7.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 12,225 shares of the company’s stock valued at $257,000 after buying an additional 881 shares in the last quarter. California State Teachers Retirement System grew its position in IDEAYA Biosciences by 1.5% in the 2nd 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 during the period. CANADA LIFE ASSURANCE Co lifted its holdings in IDEAYA Biosciences by 10.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 17,416 shares of the company’s stock valued at $367,000 after acquiring an additional 1,609 shares during the period. Finally, Snowden Capital Advisors LLC boosted its holdings in shares of IDEAYA Biosciences by 20.6% in the second quarter. Snowden Capital Advisors LLC now owns 13,631 shares of the company’s stock worth $287,000 after buying an additional 2,328 shares during the last quarter. 98.29% of the stock is owned by hedge funds and other institutional investors.

IDEAYA Biosciences Company Profile

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.