Relay Therapeutics price target raised to $17 from $15 at Citizens

Citizens raised the firm’s price target on Relay Therapeutics (RLAY) to $17 from $15 and keeps an Outperform rating on the shares. Relay Therapeutics reported updated 2L+ aBC data at the 400 mg BID fed RP3D showing reproducible efficacy, best-in-class mPFS across kinase and non-kinase patients, and numerical improvement versus prior results, while doubling the Phase 2 dataset to 109 patients, reinforcing confidence in the ongoing Phase 3 trial, the analyst tells investors in a research note. The 400 mg fed regimen appears comparable to the 600 mg fasted dose without the fasting burden, and safety remained consistent with prior data, with manageable low-grade diarrhea and dysgeusia, the firm says.