TD Cowen analyst Tyler Van Buren has maintained their bullish stance on TECX stock, giving a Buy rating on April 21.
Tyler Van Buren has given his Buy rating due to a combination of factors that highlight the promising potential of Tectonic Therapeutic’s TX45. The interim data from the Phase Ib trial has already demonstrated a clear clinical proof of concept for the relaxin class, indicating a likely significant benefit in the 6-Minute Walk Test (6MWT) in Phase II, which is crucial for Phase III approval. The ongoing enrollment for the Phase II APEX trial is progressing well, with topline data expected in 2026, and additional Phase Ib data anticipated in the second half of the year.
Furthermore, the Phase Ib trial results have shown impressive hemodynamic improvements, such as reductions in pulmonary capillary wedge pressure (PCWP) and pulmonary vascular resistance (PVR), as well as increases in cardiac output. These improvements are consistent with the treatment goals for PH-HFpEF and suggest a strong potential for achieving a clinically meaningful increase in 6MWT distance. The management’s confidence in achieving a 20-30 meter increase in 6MWT in the Phase II trial, along with the possibility of even greater benefits, further supports the Buy rating.
According to TipRanks, Van Buren is an analyst with an average return of -2.8% and a 41.29% success rate. Van Buren covers the Healthcare sector, focusing on stocks such as BridgeBio Pharma, Regeneron, and Moderna.
In another report released on April 21, Mizuho Securities also initiated coverage with a Buy rating on the stock with a $51.00 price target.