Wells Fargo has commenced coverage on Relay Therapeutics (RLAY, Financial) with an Equal Weight rating, setting a price target of $4. The financial institution has expressed positive sentiment towards Relay's primary initiative, RLY-2608, but also highlighted challenges in achieving stock price growth due to a scarcity of immediate catalysts.
Despite the current low valuation of Relay's shares, Wells Fargo advises investors to remain cautious, suggesting that a more strategic entry point may arise in the future, given the present market conditions.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Relay Therapeutics Inc (RLAY, Financial) is $18.44 with a high estimate of $30.00 and a low estimate of $12.00. The average target implies an upside of 606.68% from the current price of $2.61. More detailed estimate data can be found on the Relay Therapeutics Inc (RLAY) Forecast page.
Based on the consensus recommendation from 12 brokerage firms, Relay Therapeutics Inc's (RLAY, Financial) average brokerage recommendation is currently 1.7, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Relay Therapeutics Inc (RLAY, Financial) in one year is $70.18, suggesting a upside of 2588.89% from the current price of $2.61. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Relay Therapeutics Inc (RLAY) Summary page.
