10 Best AI Driven Biotech Stocks to Invest In

8. Relay Therapeutics Inc. (NASDAQ:RLAY)

Relay Therapeutics Inc. (NASDAQ:RLAY) is one of the 10 best AI driven biotech stocks to invest in.

On May 20, JonesResearch updated its coverage on Relay Therapeutics Inc. (NASDAQ:RLAY) after reviewing encouraging initial data for its drug, zovegalisib. The firm upgraded its rating on the stock from a Hold to a Buy. The firm also increased its price target from $18 to $20, based on the positive early results for zovegalisib in treating vascular anomalies. This results in a revised upside potential of almost 48%.

The firm said that the available data show that the treatment is demonstrating clear efficacy. Consequently, the firm raised its estimated probability of commercial success for the drug in treating vascular malformations, doubling the metric from 20% to 40%.

On May 19, the preliminary clinical outcome for Relay Therapeutics Inc.’s (NASDAQ:RLAY) drug zovegalisib showed a 60% response rate at 12 weeks for PIK3CA-driven vascular anomalies. It also worked well in patients who had already failed multiple past treatments.

Because of these results, Raymond James told investors the drug could be way safer and more effective than what’s out there now, offering a massive commercial opportunity. As a result, the firm reiterated its Strong Buy rating on the stock and raised the price target from $23 to $26.

Relay Therapeutics Inc. (NASDAQ:RLAY) operates as a clinical-stage precision medicines company. The company’s lead product candidates include RLY-8161, lirafugratinib (RLY-4008), RLY-2608, and aGal chaperone. It has strategic alliances with entities such as Elevar Therapeutics, Pfizer, and D. E. Shaw Research for the development of several therapeutic drugs.