Leerink Partners analyst Mani Foroohar has reiterated their bullish stance on TNYA stock, giving a Buy rating yesterday.
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Mani Foroohar’s rating is based on several promising developments within Tenaya Therapeutics’ pipeline and financial performance. The company has made significant progress in its clinical trials, particularly with TN-201 and TN-401, which have completed key enrollment phases and received necessary approvals for dose expansion and escalation. These advancements position Tenaya well against competitors and indicate potential for positive data readouts expected later in the year.
Furthermore, Tenaya’s financials show prudent management, with research and development expenses coming in below expectations and sufficient cash reserves to support ongoing projects into the second half of 2026. Despite concerns about the cash runway, the company’s strategic focus on advancing its clinical programs and maintaining financial discipline underpins the Buy rating, as it suggests a strong potential for future growth and value creation.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $5.00 price target.
TNYA’s price has also changed moderately for the past six months – from $1.000 to $0.674, which is a -32.60% drop .