Top 10 Stocks Under $10 That Could Triple

5. Relay Therapeutics, Inc. (NASDAQ:RLAY)

Share Price: $4.12

Average Price Target Upside Potential According to Analysts: 246.89%

Number of Hedge Fund Holders: 27

Relay Therapeutics, Inc. (NASDAQ:RLAY) is one of the top stocks under $10 that could triple. On September 4, Guggenheim began coverage of Relay Therapeutics, Inc. (NASDAQ:RLAY) with a Buy rating and a price target of $15.

Guggenheim analysts called Relay Therapeutics, Inc. (NASDAQ:RLAY) a “Best Idea” and questioned why it is trading below cash value despite having a strong pipeline.

The research firm focused on RLY-2608, Relay Therapeutics, Inc.’s (NASDAQ:RLAY) oral, selective, pan-mutant PI3Ka inhibitor. The RLY-2608 is currently in a fully-funded Phase 3 trial for breast cancer.

Guggenheim pointed out that RLY-2608’s Phase 1b progression-free survival was twice as long as expected compared to the control group. The firm believes that RLY-2608 has strong commercial potential, as many less effective drugs have quickly reached sales over $500 million. Relay Therapeutics, Inc. (NASDAQ:RLAY) is also ahead of its competitors in this mutant-selective class by 18 to 24 months.

In addition to oncology applications, Guggenheim sees potential for Relay Therapeutics, Inc.’s (NASDAQ:RLAY) RLY-2608 in treating vascular malformations (VM). The research firm believes that the company’s oncology-to-orphan thesis shift could lead to “substantial successes” similar to other biotech companies that shifted their strategies in a similar manner.

Relay Therapeutics, Inc. (NASDAQ:RLAY) is a clinical-stage, small molecule precision medicine company focused on developing therapies for cancer and genetic diseases.