Leerink Partners Reiterates a Buy Rating on Relay Therapeutics (RLAY) With a $12 PT

Relay Therapeutics, Inc. (NASDAQ:RLAY) is one of the top strong buy stocks under $5 to buy now. Leerink Partners analyst Andrew Berens reiterated a Buy rating on Relay Therapeutics, Inc. (NASDAQ:RLAY) on August 12, setting a price target of $12.00.

Raymond James also maintained a Strong Buy rating on the stock on August 8, but lowered the firm’s price target on Relay Therapeutics, Inc. (NASDAQ:RLAY) to $19 from $29.

The firm told investors in a research note that Relay Therapeutics, Inc. (NASDAQ:RLAY) reported Q2 results with OpEx down 16% quarter-over-quarter after strategic cost-cutting initiatives, which it considers meaningful.

Despite a ramp-up in the Phase 3 RLY-2608 study, the firm stated that it does not expect a considerable rise in burn in the near term.

Relay Therapeutics, Inc.’s (NASDAQ:RLAY) median price target of $3.69 implies an upside of 225.20% from current levels.

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.