Relay Therapeutics (NASDAQ:RLAY) Issues Quarterly Earnings Results

Relay Therapeutics (NASDAQ:RLAY) announced its earnings results on Thursday. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.08, Briefing.com reports. Relay Therapeutics had a negative return on equity of 42.43% and a negative net margin of 1,263.49%. The business had revenue of $10.01 million during the quarter, compared to analyst estimates of $0.12 million. During the same quarter in the previous year, the business earned ($0.78) earnings per share. The company’s revenue for the quarter was up 4327.9% compared to the same quarter last year.

Relay Therapeutics Stock Performance

RLAY traded down $0.04 on Friday, hitting $7.04. The company had a trading volume of 1,167,554 shares, compared to its average volume of 1,143,084. The stock has a market capitalization of $931.67 million, a price-to-earnings ratio of -2.50 and a beta of 1.68. The stock has a fifty day moving average price of $7.92 and a 200-day moving average price of $8.78. Relay Therapeutics has a 12-month low of $5.70 and a 12-month high of $13.32.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RLAY. Leerink Partnrs restated an “outperform” rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Stifel Nicolaus boosted their price objective on shares of Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $26.00.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.