Leerink Partners analyst David Risinger reiterated a Buy rating on Tectonic Therapeutic yesterday and set a price target of $69.00.
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David Risinger has given his Buy rating due to a combination of factors that highlight Tectonic Therapeutic’s strategic advancements and financial stability. The company is expanding the development of its drug candidate TX45 into a new indication, specifically targeting pulmonary hypertension associated with interstitial lung disease (PH-ILD), which presents a significant unmet medical need. This strategic move is expected to enhance the company’s growth potential by increasing its therapeutic options.
Additionally, Tectonic Therapeutic’s ongoing trials, such as the TX45 Ph2 APEX trial in PH-HFpEF, are progressing well, with promising interim results that suggest sustained hemodynamic benefits. The company’s financial health is also robust, with $287.4 million in cash and cash equivalents, providing a financial runway into the fourth quarter of 2028. These factors collectively support a positive outlook for the company’s stock, justifying the Buy rating.
According to TipRanks, Risinger is a 5-star analyst with an average return of 8.2% and a 53.05% success rate. Risinger covers the Healthcare sector, focusing on stocks such as Regeneron, Eli Lilly & Co, and Amgen.
In another report released on August 8, Mizuho Securities also reiterated a Buy rating on the stock with a $85.00 price target.