Tenaya Therapeutics (TNYA – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright maintained a Buy rating on the stock and has a $18.00 price target.
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Joseph Pantginis’s rating is based on the promising potential of Tenaya Therapeutics’ gene therapy, TN-401, which recently received notable financial backing. The company secured an $8 million grant from the California Institute of Regenerative Medicine (CIRM) to support its ongoing Phase 1b RIDGE-1 study. This funding is a significant vote of confidence, underscoring the promising future of the TN-401 program aimed at treating PKP2-associated arrhythmogenic right ventricular cardiomyopathy (ARVC).
Additionally, Tenaya Therapeutics is making substantial progress in its clinical-stage pipeline, with plans to present new data across its programs in 2025. The company is set to continue delivering data on its TN-201 and TN-401 programs, with upcoming milestones expected to build on the positive initial results already achieved. These developments suggest a robust pathway forward for Tenaya, justifying the Buy rating given by Pantginis.
According to TipRanks, Pantginis is an analyst with an average return of -3.5% and a 30.54% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Cytokinetics, Esperion, and Lexicon Pharmaceuticals.