Relay: breast cancer data and multiple analyst price target hikes drives price

 

Momentum from March zovegalisib breast cancer data and multiple analyst price target hikes drives RLAY to new 52-week high.

Relay Therapeutics surged approximately 15% on April 2, 2026, hitting a 52-week high near $11.50–$12.50 (exact intraday levels varied by source) with elevated volume and no new company announcement or press release that day. The move extends gains from mid-March developments, including the March 16 presentation at the ESMO Targeted Anticancer Therapies Congress of Phase 1/2 ReDiscover trial data for zovegalisib (RLY-2608) + fulvestrant at the Phase 3 dose (400mg BID fed). In 57 efficacy-evaluable patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer previously treated with CDK4/6 inhibitors, the data showed median progression-free survival of 11.1 months, 43% ORR (52% in second-line measurable patients), and a manageable safety profile dominated by low-grade treatment-related adverse events. This positive readout, building on the earlier FDA Breakthrough Therapy designation for the combination, prompted several analyst actions in mid-to-late March. Firms including H.C. Wainwright raised targets to $19 (from $14), Guggenheim to $22, Wells Fargo and Citizens to $17, with others reiterating Buy/Outperform ratings. Analysts cited the data’s support for the ongoing Phase 3 ReDiscover-2 trial, potential differentiation of the mutant-selective PI3Kα inhibitor, additional upcoming milestones (e.g., vascular anomalies data in 1H 2026 and triplet data), and external validation such as Novartis’s acquisition of a competing PI3Kα asset. Six analysts had recently revised earnings estimates upward amid the company’s cash runway into 2029 and pipeline focus. The April 2 breakout appears to reflect continued digestion of these events, momentum trading, and investor confidence in the zovegalisib program rather than a discrete new trigger. Prior to today, the stock had already risen substantially over the past year on pipeline progress.

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