Relay Therapeutics shares surge 20.53% intraday after hitting 52-week high and receiving multiple analyst upgrades with $12–$17 price targets.

Relay Therapeutics surged 20.53% intraday after hitting a 52-week high of $7.65, driven by renewed analyst optimism and pipeline progress. The stock’s rise followed upgraded coverage from Citizens (Market Outperform, $12 target) and Guggenheim (Buy, $15 target), both citing Relay’s RLY-2608 Phase 3 breast cancer trial and robust oncology pipeline. Barclays also initiated coverage with a Buy rating and $17 target, reinforcing the stock’s appeal. These developments highlighted Relay’s strong cash position ($1.31 billion market cap, more cash than debt) and growth potential, despite being flagged as slightly overvalued. The intraday spike reflected investor confidence in the company’s therapeutic innovation and positive analyst sentiment.