Barclays Maintains a Buy Rating on Relay Therapeutics (RLAY), Sets a $17 PT

Relay Therapeutics, Inc. (NASDAQ:RLAY) is one of the best strong buy penny stocks to buy now. In a report released on July 29, Peter Lawson from Barclays maintained a Buy rating on Relay Therapeutics, Inc. (NASDAQ:RLAY) with a price target of $17.00.

In other news, Relay Therapeutics, Inc. (NASDAQ:RLAY) reported in its fiscal Q1 2025 earnings that it implemented strategic cost reductions to extend its operating runway into 2029. Management stated that the reductions were also intended to fund key company objectives.

The objectives included the “execution of RLY-2608 Phase 1 vascular malformations trial through clinical proof-of-concept data”, advancement of one research-stage program, advancement of Fabry and NRAS programs to Investigational New Drug application (IND) readiness, and more.

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.

While we acknowledge the potential of RLAY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.