Reported 2 days ago
Guggenheim has initiated coverage on Relay Therapeutics (NASDAQ: RLAY) with a Buy rating and a price target of $15, despite its current trading below cash value. Analysts highlight the promising RLY-2608, an oral PI3Ka inhibitor in Phase 3 trials for breast cancer, noting its strong potential and competitive edge. Besides oncology, RLY-2608 may also help in treating vascular malformations, and the company's strategic pivot could lead to significant success, akin to other biotech firms that have adapted their focus.
Source: YAHOO