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

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

Relay Therapeutics Stock Down 0.6 %

NASDAQ:RLAY traded down $0.04 during mid-day trading on Friday, hitting $7.04. 1,167,807 shares of the stock traded hands, compared to its average volume of 1,233,270. Relay Therapeutics has a 12-month low of $5.70 and a 12-month high of $13.32. The company has a market cap of $931.67 million, a PE ratio of -2.67 and a beta of 1.68. The business’s 50-day moving average price is $7.86 and its 200 day moving average price is $8.78.

Analysts Set New Price Targets

Several research firms have recently issued reports on RLAY. Leerink Partnrs reissued an “outperform” rating on shares of Relay Therapeutics in a research report on Thursday, February 22nd. Stifel Nicolaus lifted their price target on Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Relay Therapeutics currently has an average rating of “Buy” and a consensus 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.