Diamond Member Pelican Press 0 Posted May 10, 2024 Diamond Member Share Posted May 10, 2024 Barclays upgrades little-known biotech stock it says can more than double Barclays thinks Relay Therapeutics stock can benefit from progress in ***** tests to get a proposed ******* ******* treatment approved, boosting the stock. The bank upgraded the biotechnology and ***** discovery stock to overweight from equal weight on Friday, and reiterated a $15 per share price target. Barclays’ forecast implies more than 137% upside from Thursday’s $6.31 close. Relay stock has slumped 40% in 2024. RLAY YTD mountain Relay Therapeutics stock. Analyst Peter Lawson says that there is a potential $4 billion market opportunity “for a mutant selective PI3Kalpha inhibitor” tied to treatments for HR+/HER2- ******* *******, or roughly 35% of the $12 billion in total sales in 2024 expected for “another class of drugs; CDK4/6 inhibitors (palbociclib, ribociclib, abemaciclib) approved in HR+/HER2-. “We believe the 2H update will help show the superior efficacy/safety profile for Relay’s PI3Kalpha (RLY-2608) over existing PI3Kalpha inhibitors like alpelisib and inavolisib,” Lawson said. “Based on our analysis of existing clinical data, we believe RLY-2608 has shown encouraging early data with clear signs of significant differentiation vs. existing molecules,” he added. Barclays sees a 70% chance of positive data emerging from an expanded Phase 1 study of RLY-2608 (+fulvestrant) in advanced HR+/HER2- ******* *******. That outcome, “all else equal, could potentially drive the stock up $5 while negative data could drive the stock down $2,” the bank said. This is the hidden content, please Sign In or Sign Up Investment strategy,Stock markets,Relay Therapeutics Inc,Barclays PLC,business news #Barclays #upgrades #littleknown #biotech #stock #double This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/29726-barclays-upgrades-little-known-biotech-stock-it-says-can-more-than-double/ Share on other sites More sharing options...
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