Wells Fargo analyst Tiago Fauth maintained a Buy rating on Tectonic Therapeutic (TECX – Research Report) yesterday and set a price target of $101.00.
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Tiago Fauth’s rating is based on the promising results from Tectonic Therapeutic’s recent clinical trials. The Phase 1b results demonstrated a significant reduction in pulmonary vascular resistance (PVR), surpassing the commonly accepted threshold, and showed sustained improvements in key echocardiographic measures over 29 days. This suggests a potential for long-term efficacy, which is crucial for the upcoming Phase 2 study.
Additionally, the consistency in individual patient data, with all showing marked decreases in PVR and most in pulmonary capillary wedge pressure (PCWP), further supports the drug’s effectiveness. The safety profile of the drug was also favorable, with only mild to moderate adverse events reported and no serious adverse events. These factors, combined with the potential for significant stock appreciation leading up to the Phase 2 readout, underpin Fauth’s Buy rating for Tectonic Therapeutic.
According to TipRanks, Fauth is an analyst with an average return of -5.4% and a 39.73% success rate. Fauth covers the Healthcare sector, focusing on stocks such as United Therapeutics, PTC Therapeutics, and Inozyme Pharma.
In another report released on May 15, Mizuho Securities also maintained a Buy rating on the stock with a $85.00 price target.