Relay Therapeutics weakness brings buying opportunity, says Barclays

Barclays analyst Peter Lawson views the recent pullback in shares of Relay Therapeutics (RLAY) as a buying opportunity. The firm says Relay stands out in its coverage as having the greatest upside and exposure to artificial intelligence-driven drug discovery. Barclays likes the risk/reward of Relay with the stock trading at 0.6-times cash, a cash runway into the second half of 2027, and a “derisked catalyst path.” The firm has an Overweight rating on the name with a $17 price target This note corrects the company’s cash runway position to the second half of 2027. The original article on March 27 has been removed.