JPMorgan Chase & Co. Raises Target Price on Relay Therapeutics to $31.00
Ray Therapeutics has received an upgrade to its target price from analysts at JPMorgan Chase & Co. The new price objective of $31.00 represents a potential upside of 56.72% from the company's current stock price.
This is not the first time Relay Therapeutics' target price has been increased. In recent weeks, several other firms have also upgraded their price targets for the biotechnology company.
The Goldman Sachs Group, for example, lifted its price target on Relay Therapeutics from $22.00 to $31.00 and gave the company a 'buy' rating in a research note on July 21st. Oppenheimer also boosted its price target on Relay Therapeutics from $14.00 to $18.00 and gave the stock an 'outperform' rating in a report on April 28th.
Ray Therapeutics has been the subject of several other reports, with some firms giving it a 'strong sell' rating while others have assigned a 'buy' or 'market outperform' rating to the company's stock. The brokerage currently has an 'overweight' rating on the stock and expects that Relay Therapeutics will post -1.58 earnings per share for the current fiscal year.