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

Relay Therapeutics (NASDAQ:RLAY) announced its earnings results on Thursday. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 42.43% and a negative net margin of 1,263.49%. The business’s revenue was up 4327.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.78) EPS.

Relay Therapeutics Stock Performance

Relay Therapeutics stock traded down $0.04 during mid-day trading on Friday, reaching $7.04. 1,167,554 shares of the company were exchanged, compared to its average volume of 1,143,084. Relay Therapeutics has a twelve month low of $5.70 and a twelve month high of $13.32. The firm’s 50-day simple moving average is $7.92 and its two-hundred day simple moving average is $8.78. The firm has a market cap of $931.67 million, a PE ratio of -2.50 and a beta of 1.68.

Analyst Upgrades and Downgrades

RLAY has been the subject of a number of research analyst reports. Leerink Partnrs reissued an “outperform” rating on shares of Relay Therapeutics in a research report on Thursday, February 22nd. Stifel Nicolaus increased their price objective on Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Five analysts have rated the stock with a buy rating, Based on data from 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.