We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Relay Therapeutics, Inc. (RLAY) Surges 13.8%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Relay Therapeutics, Inc. (RLAY - Free Report) shares ended the last trading session 13.8% higher at $18.22. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3% loss over the past four weeks.
Share prices rose after analysts at Raymond James initiated coverage on Relay Therapeutics with an outperform rating and a $29 per share target.
This company is expected to post quarterly loss of $0.70 per share in its upcoming report, which represents a year-over-year change of -14.8%. Revenues are expected to be $0.4 million, down 4.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Relay Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RLAY going forward to see if this recent jump can turn into more strength down the road.
Relay Therapeutics, Inc. is part of the Zacks Medical - Drugs industry. Catalyst Pharmaceutical (CPRX - Free Report) , another stock in the same industry, closed the last trading session 2.4% higher at $17.97. CPRX has returned 22.4% in the past month.
For Catalyst, the consensus EPS estimate for the upcoming report has changed +9.4% over the past month to $0.30. This represents a change of +150% from what the company reported a year ago. Catalyst currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Relay Therapeutics, Inc. (RLAY) Surges 13.8%: Is This an Indication of Further Gains?
Relay Therapeutics, Inc. (RLAY - Free Report) shares ended the last trading session 13.8% higher at $18.22. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3% loss over the past four weeks.
Share prices rose after analysts at Raymond James initiated coverage on Relay Therapeutics with an outperform rating and a $29 per share target.
This company is expected to post quarterly loss of $0.70 per share in its upcoming report, which represents a year-over-year change of -14.8%. Revenues are expected to be $0.4 million, down 4.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Relay Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RLAY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Relay Therapeutics, Inc. is part of the Zacks Medical - Drugs industry. Catalyst Pharmaceutical (CPRX - Free Report) , another stock in the same industry, closed the last trading session 2.4% higher at $17.97. CPRX has returned 22.4% in the past month.
For Catalyst, the consensus EPS estimate for the upcoming report has changed +9.4% over the past month to $0.30. This represents a change of +150% from what the company reported a year ago. Catalyst currently has a Zacks Rank of #3 (Hold).