HC Wainwright & Co. Maintains Buy Rating for Relay Therapeutics: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
HC Wainwright & Co. has maintained a Buy rating for Relay Therapeutics (NASDAQ:RLAY) but lowered its price target from $19.00 to $17.00. Relay Therapeutics' shares are currently trading at $9.37, and the new price target suggests a potential upside of 81.43%. Relay Therapeutics is a clinical-stage precision medicine company with a focus on drug discovery for intractable or inadequately addressed protein targets, with candidates like RLY-4008, RLY-2608, and GDC-1971 in its pipeline.
December 11, 2023 | 5:00 pm
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POSITIVE IMPACT
HC Wainwright & Co. maintains a Buy rating on Relay Therapeutics with a lowered price target of $17, suggesting a significant upside from the current trading price of $9.37.
The maintenance of a Buy rating by a reputable analyst firm like HC Wainwright & Co. typically instills confidence in investors and can lead to positive sentiment around the stock. Although the price target has been lowered, the new target still represents a substantial upside potential, which could attract investors looking for growth opportunities. The impact is likely to be positive in the short term, assuming market conditions do not change significantly and no other major company-specific news arises.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100