As of September 24, 2023, Relay Therapeutics, Inc. (NASDAQ:RLAY) has received an average rating of “Moderate Buy” from ten analysts covering the company, according to Bloomberg Ratings. Out of the ten analysts, two have recommended holding the stock, seven have advised buying it, and one has issued a strong buy recommendation. The average 12-month price target among brokerages that have recently reported on the stock is $26.06.
On Friday, shares of NASDAQ RLAY opened at $8.62. The stock’s fifty-day simple moving average stands at $10.73, while its two-hundred-day simple moving average is $12.28. Over the past year, Relay Therapeutics has reached a low of $8.36 and a high of $24.40. The company currently boasts a market capitalization of $1.05 billion and possesses a price-to-earnings ratio of -2.96 as well as a beta of 1.38.
Relay Therapeutics, Inc operates as a clinical-stage precision medicines company with a focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. Its lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), currently undergoing first-in-human clinical trials for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, which targets phosphoinostide 3 kinase alpha and functions as a mutant-PI3Ka inhibitor; and GDC-1971 that inhibits protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 and is in Phase 1 trial for advanced solid tumors.
In its most recent quarterly earnings report on August 8th, Relay Therapeutics (NASDAQ:RLAY) announced earnings per share of ($0.81) for the quarter, falling short of the consensus estimate by ($0.03). The company generated $0.12 million in revenue during the quarter compared to a consensus estimate of $0.81 million. Relay Therapeutics exhibited a negative net margin of 36,562.53% and a negative return on equity of 37.81%. Quarterly revenue declined by 67.4% year-over-year, with the company recording earnings per share of ($0.71) during the same period last year. Analysts predict that Relay Therapeutics will post -3.29 EPS for the current year.
References:
– Bloomberg Ratings
– NASDAQ RLAY stock data
– Relay Therapeutics’ business profile and product candidates
– Relay Therapeutics’ latest quarterly earnings report
Bank of America Corporation
BAC
Strong Buy
Updated on: 04/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Buy
DCF: Strong Buy
ROE: Neutral
Relay Therapeutics: Gaining Attention and Confidence in the World of Biotechnology
In the world of biotechnology, Relay Therapeutics has been gaining attention and garnering significant interest from both brokerages and hedge funds. This innovative company, which is focused on developing targeted therapies for a variety of diseases, has recently received positive ratings and recommendations from top industry experts.
One brokerage that weighed in on Relay Therapeutics is Oppenheimer, which reiterated its “outperform” rating and set a target price of $33.00 per share. This indicates their belief that the company’s stock will continue to perform well and exceed market expectations. The research report was released on Wednesday, August 9th, providing investors with valuable insights into the potential growth and future prospects of Relay Therapeutics.
Meanwhile, HC Wainwright, another prominent brokerage firm, also expressed optimism about Relay Therapeutics by lowering its price target to $30.00 but maintaining a “buy” rating for the company. This revision suggests that HC Wainwright still sees significant upside potential for investors who are considering adding Relay Therapeutics to their portfolios.
SVB Securities initiated coverage on Relay Therapeutics in early August and issued an “outperform” rating for the company. As a result, more investors are taking notice of this biotech firm’s exciting potential in the field of targeted therapies. This coverage further solidifies Relay Therapeutics’ reputation as a leading player in the industry.
Adding to the growing confidence in Relay Therapeutics is Leerink Partners’ recent reaffirmation of an “outperform” rating on shares of the company. Leerink Partners continues to show support for Relay Therapeutics by indicating that they believe it will outperform market expectations and deliver strong results.
In addition to these positive endorsements from brokerages, several hedge funds have either increased or decreased their stakes in RLAY (Relay Therapeutics’ ticker symbol). Price T Rowe Associates Inc., one such hedge fund, significantly lifted its stake by 52.7% during the first quarter. This move demonstrates confidence in Relay Therapeutics’ future performance, as Price T Rowe Associates Inc. now owns a substantial number of shares worth an impressive $113,034,000.
Morgan Stanley, another prominent hedge fund, also expressed its confidence in Relay Therapeutics by increasing its holdings by 592.1% during the fourth quarter. They now own approximately 2,369,344 shares of the company’s stock worth $35,398,000. This significant increase suggests that Morgan Stanley believes Relay Therapeutics is well-positioned for growth and success.
Furthermore, Norges Bank recently entered the picture by acquiring a new stake in Relay Therapeutics valued at around $26,718,000. This investment adds to the growing list of institutions that are recognizing Relay Therapeutics’ potential and choosing to be part of its journey.
State Street Corp is yet another notable hedge fund that has shown interest in Relay Therapeutics. By boosting its holdings by 46.9% during the second quarter, State Street Corp now owns an impressive 4,778,419 shares worth approximately $80,039,000. Their increased involvement signals confidence in the company’s future prospects and underscores their belief in its long-term viability.
Last but not least is Vanguard Group Inc., which lifted its holdings in Relay Therapeutics by 17.8% during the third quarter. With over 8 million shares valued at $187,003,000 under their ownership, Vanguard Group Inc.’s increased stake further accentuates the market’s recognition of Relay Therapeutics’ growth potential.
With all these brokerages and hedge funds expressing confidence through positive ratings and increased stakes in RLAY compared to earlier figures available till September 2023 reference date – investors can take note of this biotech company’s potential for continued success and consider it as a valuable addition to their portfolios. The recommendations from industry experts indicate that Relay Therapeutics may be on the brink of breakthroughs in targeted therapies, making it an exciting prospect for both seasoned investors and those looking to explore the field of biotechnology.
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