12 hours ago
BofA Reiterates a Buy Rating on Relay Therapeutics (RLAY), Sets a $17 PT
Relay Therapeutics, Inc. (NASDAQ:RLAY) is one of the 13 Best Long-Term Penny Stocks to Buy According to Analysts. Bank of America Securities analyst Jason Gerberry maintained a Buy rating on Relay Therapeutics, Inc. (NASDAQ:RLAY) on June 3 and set a price target of $17.00. The rating update came after the company announced updated interim clinical data for RLY-2608 on June 2.
A chemist arranging containers of compounds, ready for the commercialization process.
RLY-2608 is the first known investigational allosteric, pan-mutant, and isoform-selective inhibitor of PI3Kα. The updated interim data remained consistent with the data previously shared in December 2024, showing a '10.3-month median PFS overall and 11.0-month median PFS in 2L patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer.' The data continues to support the planned pivotal study initiation in mid-2025.
Relay Therapeutics, Inc. (NASDAQ:RLAY) is a clinical-stage precision medicine company that uses advanced computational and experimental technologies to innovate drug discovery. Its primary focus is on genetic disease indications and targeted oncology. The company's Dynamo platform integrates a range of cutting-edge experimental and computational approaches to understand protein structure and motion in drug discovery.
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