JMP Securities lowered the firm’s price target on Relay Therapeutics (RLAY) to $21 from $24 and keeps an Outperform rating on the shares. Roche (RHHBY) terminated the collaboration agreement of migoprotafib/RLY-1971 with Relay Therapeutics, and JMP is removing the the RLY-1971 contribution from its model, the analyst tells investors in a research note. The firm views the termination as a setback, but notes that Relay’s clear focus is on RLY-2608, with key data in 2H24.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RLAY:
- 3 Best Stocks to Buy Now, 7/18/2024, According to Top Analysts
- AI Could Revolutionize Drug Discovery: A Look at Key Players
- Relay Therapeutics to explore RLY-2608 outside of cancer, says Oppenheimer
- Relay Therapeutics Advances Cancer Treatment and Expands Drug Pipeline
- Relay Therapeutics expects cash to fund operations into second half of 2026
Questions or Comments about the article? Write to editor@tipranks.com