Precision medicine specialist Relay Therapeutics (NASDAQ: RLAY) probably didn’t want this holiday-shortened trading week to end, since it was quite the stock market star during the period. According to data compiled by S&P Global Market Intelligence, its share price climbed by almost 15%, thanks in no small part to a bullish new analyst note.
After market hours Wednesday, Guggenheim Securities prognosticator Brad Canino initiated coverage of Relay. He flagged the biotech as a buy with a price target of $15 per share, nearly four times the company’s most recent closing share price. Given that sort of potential, it wasn’t surprising that Canino bestowed his firm’s Best Idea designation on the stock.
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