Alphabet’s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google Cloud is stepping up its contributions to the biotech and pharmaceutical industries by launching two AI-driven tools designed to speed up drug discovery and foster advancements in precision medicine. These offerings, known as the Target and Lead Identification Suite and the Multiomics Suite, are now available worldwide. The former aids in understanding amino acid functions and predicting protein structures, a critical step in developing therapeutics like antibodies.
On the other hand, the Multiomics Suite focuses on analyzing and interpreting genomic data, which is essential for advancing precision medicine. Shweta Maniar, Google Cloud’s global director for Life Sciences Strategy and Solutions, emphasized the transformative potential of these tools. She highlighted their capacity to accelerate drug discovery and expedite the delivery of therapeutics to market, which can significantly impact patients waiting for life-saving treatments or medicines that can enhance their quality of life.
Turning to Wall Street, analysts have a Strong Buy consensus rating on GOOGL stock based on 29 Buys assigned in the past three months. In addition, its $129.86 per share average price target implies 8.62% upside potential.