LifeSci Capital analyst Cory Jubinville, PhD reiterated a Buy rating on Tenaya Therapeutics today and set a price target of $3.00.
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Cory Jubinville, PhD has given his Buy rating due to a combination of factors related to Tenaya Therapeutics’ TN-201 program. Despite the FDA placing TN-201 on clinical hold, the reasons were procedural rather than safety-related, as the FDA requested a standardized patient monitoring and immunosuppression regimen across trial sites. Tenaya has already submitted the necessary protocol adjustments, and the Data Safety Monitoring Board has supported the continuation of the study without changes, indicating confidence in the program’s safety.
Additionally, the initial data from the TN-201 program, although limited, showed promising results. Patients treated with the low-dose TN-201 remained asymptomatic and showed significant improvements in cardiac measurements. The high-dose data also indicated potential benefits, with one patient showing a dose-dependent increase in MyBP-C protein expression. These positive indicators, combined with the procedural nature of the clinical hold, contribute to the Buy rating, as they suggest a promising outlook for the TN-201 program without significant delays in its timeline.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $40.00 price target.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TNYA in relation to earlier this year.