Tyra Bioscience (TYRA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on the stock and has a $30.00 price target.
Mitchell Kapoor has given his Buy rating due to a combination of factors related to Tyra Bioscience’s TYRA-300. One significant reason is the potential of TYRA-300 in treating non-muscle-invasive bladder cancer (NMIBC). TYRA-300 offers a unique advantage with its oral administration, which could be more convenient for patients compared to the traditional transurethral resection of bladder tumor (TURBT) procedures. This convenience, combined with the possibility of achieving a complete response rate above 70%, could make TYRA-300 a preferred choice for NMIBC patients.
Additionally, TYRA-300’s potential in the achondroplasia (ACH) market is another factor influencing the Buy rating. Current treatments like VOXZOGO and infigratinib achieve an annualized height velocity (AHV) of 6cm/yr, but TYRA-300 aims to surpass this benchmark, potentially normalizing height over time. The higher selectivity of TYRA-300 compared to pan-FGFR inhibitors suggests it could achieve best-in-class efficacy at lower doses, further supporting its market potential. These factors contribute to Kapoor’s confidence in Tyra Bioscience’s growth prospects, justifying the Buy rating and a 12-month price target of $30 per share.
According to TipRanks, Kapoor is an analyst with an average return of -22.2% and a 27.62% success rate. Kapoor covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Halozyme, and Tyra Bioscience.
In another report released on March 28, Oppenheimer also maintained a Buy rating on the stock with a $33.00 price target.