Analyst Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Tenaya Therapeutics and decreased the price target to $3.00 from $5.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors related to Tenaya Therapeutics’ recent clinical developments. The interim data from the RIDGE-1 Phase 1b/2 trial for TN-401 gene therapy showed promising results, particularly in terms of safety and efficacy for treating arrhythmogenic right ventricular cardiomyopathy (ARVC). The therapy was well tolerated, with no dose-limiting toxicities observed, and there were significant improvements in arrhythmia burden and electrical instability in patients with extended follow-up.
Furthermore, the FDA’s decision to lift the logistical clinical hold on TN-201 provides a positive indication for TN-401, reducing the perceived risk associated with the program. The ongoing clinical updates expected throughout 2026 for both TN-401 and TN-201 are anticipated to further validate the therapeutic approach. These factors, combined with the company’s strategic focus on advancing its clinical programs, underpin Pantginis’s optimistic outlook on the stock.