LifeSci Capital analyst Cory Jubinville, PhD maintained a Buy rating on Tectonic Therapeutic yesterday and set a price target of $88.00.
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Cory Jubinville, PhD’s rating is based on several key factors that indicate a positive outlook for Tectonic Therapeutic’s stock. The recent success of Merck’s Phase 2 CADENCE trial with sotatercept has positive implications for Tectonic’s TX45, which is being evaluated in a similar patient population. The strong results from Merck’s trial suggest that Tectonic’s approach in targeting specific hemodynamic measurements, such as pulmonary vascular resistance, is on the right track.
Additionally, Tectonic’s strategic focus on patient selection in their TX45 program is a significant differentiator, enhancing the potential for successful outcomes in their ongoing Phase 2 APEX trial. The company’s previous positive Phase 1b data further supports the potential efficacy of TX45. Moreover, the progression of Merck’s study to a Phase 3 trial could help clarify the regulatory pathway for Tectonic, increasing the likelihood of eventual approval. These factors collectively contribute to the Buy rating for Tectonic Therapeutic’s stock.
In another report released on November 7, Piper Sandler also maintained a Buy rating on the stock with a $76.00 price target.