Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Consensus Recommendation of “Buy” by Brokerages

Relay Therapeutics, Inc. (NASDAQ:RLAYGet Free Report) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $22.20.

Several research firms have recently weighed in on RLAY. Barclays upgraded shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Friday, May 10th. Oppenheimer reiterated an “outperform” rating and issued a $25.00 target price (down previously from $33.00) on shares of Relay Therapeutics in a research report on Monday, May 6th. Stifel Nicolaus upped their price target on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Leerink Partnrs restated an “outperform” rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Finally, JMP Securities reissued a “market outperform” rating and set a $24.00 target price on shares of Relay Therapeutics in a report on Monday, May 6th.

Read Our Latest Research Report on Relay Therapeutics

Relay Therapeutics Stock Performance

RLAY opened at $6.30 on Friday. The stock has a 50-day moving average of $6.88 and a 200-day moving average of $8.74. The company has a market cap of $836.27 million, a PE ratio of -2.39 and a beta of 1.68. Relay Therapeutics has a 52-week low of $5.70 and a 52-week high of $13.32.

Relay Therapeutics (NASDAQ:RLAYGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.08. Relay Therapeutics had a negative return on equity of 42.66% and a negative net margin of 1,263.49%. The firm had revenue of $10.01 million during the quarter, compared to analyst estimates of $0.12 million. During the same period in the prior year, the company posted ($0.78) earnings per share. The business’s revenue for the quarter was up 4327.9% compared to the same quarter last year. On average, research analysts predict that Relay Therapeutics will post -2.83 earnings per share for the current year.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Relay Therapeutics in the 1st quarter worth $79,000. Virtu Financial LLC purchased a new stake in shares of Relay Therapeutics during the first quarter valued at $87,000. Victory Capital Management Inc. purchased a new stake in shares of Relay Therapeutics during the fourth quarter valued at $126,000. Quest Partners LLC bought a new stake in Relay Therapeutics in the 4th quarter worth about $147,000. Finally, Los Angeles Capital Management LLC raised its position in Relay Therapeutics by 25.7% in the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after buying an additional 2,850 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics Company Profile

(Get Free Report

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.

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Analyst Recommendations for Relay Therapeutics (NASDAQ:RLAY)

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