Is IDEAYA Biosciences, Inc. overvalued or undervalued?

As of 12 November 2020, the valuation grade for IDEAYA Biosciences, Inc. moved from does not qualify to risky. The company is currently assessed as overvalued. Key ratios indicate significant financial distress, with a Price to Book Value of 1.86, an EV to EBIT of -3.36, and an ROCE of -108.56%.
In comparison to peers, IDEAYA's valuation metrics are concerning; for instance, Madrigal Pharmaceuticals, Inc. has a P/E of -15.85 and an EV to EBITDA of -12.93, while PTC Therapeutics, Inc. shows a more favorable P/E of 5.42 and an EV to EBITDA of 2.57. The recent stock performance reflects a troubling trend, with a 1-year return of -42.09% compared to the S&P 500's 10.26%, further reinforcing the notion of overvaluation.