Three Analysts Initiate Coverage On This Newly Listed Precision Oncology Firm
- Wedbush initiated coverage of Tango Therapeutics Inc (NASDAQ: TNGX) with an Outperform rating and a $12 price target.
- Analyst Robert Driscoll believes Tango's unique synthetic lethality approach is differentiated.
- Furthermore, he expects Tango to leverage this comprehensive platform to drive the discovery and development of many programs that lead to significant value creation.
- Goldman Sachs initiated coverage of Tango Therapeutics with a Buy rating and a $17 price target.
- Analyst Chris Shibutani believes Tango is "strongly positioned" as a precision oncology company.
- The Company's proprietary drug discovery platform utilizes a synthetic lethality-based approach that addresses the "vast, largely untapped realm" of cancers driven by tumor suppressor gene loss, Shibutani tells investors in a research note.
- Guggenheim initiated coverage of Tango Therapeutics with a Buy rating and a $16 price target.
- Tango started trading on NASDAQ a couple of weeks back.
- Its lead program TNG908 is a protein arginine methyl transferase 5 (PRMT5) inhibitor that is synthetic lethal with MTAP deletion.
- IND submission for human trials is expected in Q4 of 2021.
- Price Action: TNGX shares are up 15.2% at $14.89 during the market session on the last check Tuesday.
Latest Ratings for TNGX
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Sep 2021 | SVB Leerink | Initiates Coverage On | Outperform | |
| Sep 2021 | Wedbush | Initiates Coverage On | Outperform | |
| Sep 2021 | Guggenheim | Initiates Coverage On | Buy |
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