Relay Therapeutics (NASDAQ:RLAY) Posts Quarterly Earnings Results, Beats Expectations 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, beating the consensus estimate of ($0.70) by $0.08, Briefing.com reports. The business had revenue of $10.01 million for the quarter, compared to analyst estimates of $0.12 million. Relay Therapeutics had a negative return on equity of 42.43% and a negative net margin of 1,263.49%. The business’s revenue was up 4327.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.78) EPS.

Relay Therapeutics Stock Down 0.6 %

NASDAQ RLAY traded down $0.04 during trading hours 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. Relay Therapeutics has a fifty-two week low of $5.70 and a fifty-two week high of $13.32. The business has a fifty day simple moving average of $7.92 and a 200-day simple moving average of $8.78. The firm has a market cap of $931.67 million, a P/E ratio of -2.50 and a beta of 1.68.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RLAY. Stifel Nicolaus upped 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. Leerink Partnrs restated an “outperform” rating on shares of Relay Therapeutics in a research note on Thursday, February 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, 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.