Relay Therapeutics (NASDAQ:RLAY) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Relay Therapeutics (NASDAQ:RLAY) posted its quarterly earnings results on Thursday. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.08, Briefing.com reports. The firm had revenue of $10.01 million during the quarter, compared to analysts’ expectations of $0.12 million. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.19%. The firm’s revenue for the quarter was up 4327.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.78) earnings per share.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock opened at $7.04 on Friday. Relay Therapeutics has a 1 year low of $5.70 and a 1 year high of $13.32. The business has a 50 day moving average price of $7.86 and a 200 day moving average price of $8.78.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RLAY shares. Stifel Nicolaus raised their price objective on Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Leerink Partnrs reaffirmed an “outperform” rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $26.00.

About Relay Therapeutics

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.