Jefferies analyst Akash Tewari upgraded Relay Therapeutics to Buy from Hold with a price target of $16, up from $10.60, after the company reported interim data for RLY-2608. Management’s thesis on higher selectivity equaling better safety and tolerability seems to have held up based on the data, the analyst tells investors in a research note. The firm thinks Relay’s efficacy looks competitive verses other PIK3i and AKTi combos.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RLAY:
- Relay Therapeutics downgraded to Perform from Outperform at Oppenheimer
- Relay Therapeutics reinstated with a Buy at Goldman Sachs
- Relay Therapeutics announces $200M common stock offering
- Relay Therapeutics Announces Proposed Public Offering of Common Stock
- Relay Therapeutics price target raised to $17 from $14 at Barclays