Jefferies analyst Akash Tewari upgraded Relay Therapeutics to Hold from Underperform with a price target of $12.50, down from $16. While RLY-2608’s efficacy data presented at the AACR meeting "was underwhelming," the firm contends that the setup "looks more reasonable" at current levels. However, it adds that overall it does not think RLY-2608’s drug profile "looks competitive" and notes that durability questions remain.
Published first on TheFly
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