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

IDEAYA Biosciences (NASDAQ:IDYA) posted its quarterly earnings data on Tuesday. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.18) by ($0.04), Zacks reports. IDEAYA Biosciences had a negative net margin of 1,157.18% and a negative return on equity of 40.15%. The business had revenue of $10.24 million during the quarter, compared to analysts’ expectations of $7.58 million. During the same quarter last year, the firm earned $1.33 earnings per share. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year.

IDEAYA Biosciences Stock Performance

Shares of IDYA stock opened at $32.36 on Thursday. The stock’s fifty day moving average is $36.71 and its two-hundred day moving average is $34.03. IDEAYA Biosciences has a fifty-two week low of $26.81 and a fifty-two week high of $42.68.

IDEAYA Biosciences News Roundup

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

• Positive Sentiment: IDEAYA said it completed its NDA submission for darovasertib plus crizotinib in metastatic uveal melanoma and highlighted encouraging data for IDE849 in relapsed small-cell lung cancer. It ended September with $1.15 billion in cash and reiterated runway into 2030, supporting development plans. Third-quarter results and business update
• Positive Sentiment: Wedbush raised its price target to $63 from $60 and maintained an “outperform” rating, signaling continued confidence in the shares. Wedbush analyst ratings
• Neutral Sentiment: Third-quarter revenue was $10.24 million, above estimates of about $7.6 million and up 14.6% year over year. The reported loss was $1.22 per share; analyst estimates cited in the reports ranged from a $1.18 to $1.26 loss, making the earnings comparison mixed. Third-quarter results
• Neutral Sentiment: The company plans to participate in investor-relations events in November; the announcement itself did not provide a material new financial or clinical update. Investor-relations events announcement
• Negative Sentiment: Royal Bank of Canada cut its target to $45 from $48 while keeping “outperform,” and Guggenheim lowered its target to $52 from $57 while retaining “buy.” The lower targets may temper sentiment, although both firms kept favorable ratings. Analyst price-target coverage

Wall Street Analysts Forecast Growth

IDYA has been the subject of several recent analyst reports. Citizens Jmp reissued a “market outperform” rating and issued a $42.00 price target on shares of IDEAYA Biosciences in a report on Tuesday, September 1st. Royal Bank Of Canada dropped their target price on shares of IDEAYA Biosciences from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating on shares of IDEAYA Biosciences in a research note on Tuesday, September 22nd. Citigroup reissued a “market outperform” rating on shares of IDEAYA Biosciences in a research note on Monday, October 19th. Finally, William Blair began coverage on shares of IDEAYA Biosciences in a research report on Friday, October 16th. They set an “outperform” rating for the company. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.91.

Insider Activity at IDEAYA Biosciences

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

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.