Barclays analyst Peter Lawson lowered the firm’s price target on Relay Therapeutics to $15 from $23 and keeps an Equal Weight rating on the shares following the Phase 1 data update for PI3Kalpha inhibitor RLY-2608. The analyst views the safety and tolerability profile for RLY-2608 as "encouraging" but says RLY-2608 failed to show meaningful efficacy in the early data set.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on RLAY:
- Relay Therapeutics to Participate in Two Upcoming Investor Conferences
- Relay Therapeutics Plunges on Latest Cancer Data
- Oppenheimer ‘not surprised’ by Relay plunge, but thinks 2608 ‘looks like a drug’
- Relay Therapeutics to host conference call
- Relay Therapeutics says RLY-2608 selectively targets multiple PI3Ka mutations