Relay Therapeutics, Inc.
RLAY · NASDAQ
Analyst ratings
strong_buy · 8 ratings
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| May 26, 2026 | Guggenheim | Maintains | Buy | $26.00 |
| May 26, 2026 | HC Wainwright & Co. | Maintains | Buy | $28.00 |
| May 20, 2026 | Barclays | Maintains | Overweight | $27.00 |
| May 20, 2026 | Citizens | Maintains | Market Outperform | $21.00 |
| May 19, 2026 | Raymond James | Maintains | Strong Buy | $26.00 |
| April 29, 2026 | HC Wainwright & Co. | Maintains | Buy | $25.00 |
| April 28, 2026 | Goldman Sachs | Maintains | Buy | $22.00 |
| April 28, 2026 | Citizens | Maintains | Market Outperform | $19.00 |
| April 28, 2026 | Wells Fargo | Maintains | Overweight | $21.00 |
| April 28, 2026 | Oppenheimer | Maintains | Outperform | $18.00 |
| April 8, 2026 | Barclays | Maintains | Overweight | $21.00 |
| March 23, 2026 | HC Wainwright & Co. | Maintains | Buy | $19.00 |
| March 17, 2026 | Citizens | Maintains | Market Outperform | $17.00 |
| March 17, 2026 | Wells Fargo | Maintains | Overweight | $17.00 |
| March 13, 2026 | Guggenheim | Maintains | Buy | $22.00 |
| February 27, 2026 | Wells Fargo | Maintains | Overweight | $15.00 |
| December 12, 2025 | Wells Fargo | Upgrades | Overweight | $13.00 |
| November 7, 2025 | Wells Fargo | Maintains | Equal-Weight | $6.00 |
| August 26, 2025 | HC Wainwright & Co. | Maintains | Buy | $14.00 |
Zovegalisib clinical data and competitive differentiation
Zovegalisib has generated strong Phase 2 ReInspire trial data, prompting multiple analysts to raise price targets. H.C. Wainwright lifted its target to $28, while Guggenheim raised its target to $26, citing the drug's potential improvements over existing treatments and a notable response rate that supports a differentiated clinical profile.
Despite encouraging early-phase data, the stock's rapid 432% surge over the past year may already price in optimistic trial outcomes. InvestingPro analysis flags that Relay Therapeutics may be overvalued at current levels relative to its Fair Value, suggesting the market may be front-running clinical success that is not yet guaranteed.
Valuation sustainability after the 52-week high and dilutive equity offering
With 14 analysts maintaining a Buy consensus and an average price target of $25.38 — representing roughly 27.5% upside from current levels — the analyst community broadly views the stock's valuation as justified by pipeline progress. Canaccord Genuity's fresh Buy initiation with a $29 target further reinforces confidence in the risk/reward profile.
Relay Therapeutics recently priced a $275 million stock offering at $12 per share, a significant discount to current trading levels, raising dilution concerns. The stock now trades near a 52-week high of $19.97, and InvestingPro suggests it may be overvalued, increasing the risk of a correction if upcoming data disappoints.
Long-term earnings trajectory and path to profitability
Analysts estimate a meaningful earnings increase this year of $0.21 per share, reflecting improving financial momentum as the pipeline matures. Historically, RLAY stock has averaged a 55% rise over subsequent 52-week periods, and its Financhill Stock Score of 58/100 — above its historic median — signals relatively lower risk and potential outperformance.
Despite near-term earnings growth estimates, analysts project a $0.12 per share earnings decrease next year, indicating that profitability improvement may be short-lived. Historically, RLAY has risen in only 1 of the past 5 subsequent 52-week periods, reflecting a 20% historical accuracy rate that undermines confidence in sustained upward momentum.