Stock Track | Relay Therapeutics Soars as Wall Street Gets More Bullish on Cancer Pipeline

Stock Track09-16

Shares of Relay Therapeutics (RLAY) surged over 5% in pre-market trading on Monday, as investor sentiment got a boost from bullish analyst reports on the biopharmaceutical company's promising drug pipeline.

H.C. Wainwright reiterated a Buy rating on RLAY while raising their price target to $19, citing the company's strategic market positioning and encouraging clinical data readouts. Analyst Robert Burns highlighted Relay's potential in targeted protein degradation, an emerging therapeutic modality that could be a game-changer in cancer treatment.

Additionally, Barclays initiated coverage on Relay with an Overweight rating and a $17 price target. The investment bank sees significant opportunity in Relay's lead programs targeting mutations that drive various cancers, backed by its powerful computational platform for designing novel degraders.

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