Leerink Partners analyst Mani Foroohar has maintained their bullish stance on TNYA stock, giving a Buy rating yesterday.
Mani Foroohar has given his Buy rating due to a combination of factors related to the recent data update from Tenaya Therapeutics. The company presented encouraging results from their Phase 1b/2 MyPEAK-1 study on TN-201 for MYBPC3-associated hypertrophic cardiomyopathy. The data showed stable or improved cardiac function parameters and New York Heart Association (NYHA) class improvements in patients, which are positive indicators of the treatment’s efficacy.
Additionally, the safety profile of TN-201 appears consistent with previous updates, with no cardiotoxicity observed and manageable liver enzyme elevations. This, coupled with the completion of Cohort 2 enrollment expected soon, suggests a promising outlook for the continuation of the study. These factors collectively support the Buy rating, as they indicate potential for TN-201 to address unmet medical needs in hypertrophic cardiomyopathy effectively.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $5.00 price target.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TNYA in relation to earlier this year.