H.C. Wainwright lowered the firm’s price target on Relay Therapeutics (RLAY) to $18 from $20 and keeps a Buy rating on the shares after the company received notice from Roche (RHBBY) that it is terminating the collaboration and license agreement dated December 11, 2020 for RLY-1971, a SHP2 inhibitor. The firm removed risk-adjusted revenue projections for RLY-1971 from its discounted cash flow-based valuation.
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