H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Tenaya Therapeutics today and set a price target of $3.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors tied to Tenaya Therapeutics’ 2026 clinical and regulatory milestones. He views 2026 as a pivotal year in which maturing datasets from the TN-201 and TN-401 gene therapy programs could materially clarify the company’s value proposition. For TN-201 in MYBPC3-associated hypertrophic cardiomyopathy, Tenaya is set to deliver interim data from higher-dose patients as well as longer-term follow-up from earlier cohorts in the first half of 2026, followed by extended one- and two-year outcomes in the second half of the year. Pantginis believes these readouts, together with the company’s plan to seek regulatory clarity on pivotal trial design for TN-201 during 2026, position the program to move efficiently toward late-stage development.
Pantginis’s rating is based on similar value-creating catalysts expected from TN-401 in PKP2-associated ARVC. A scheduled DSMB review in early 2026, which will evaluate emerging safety data across two dose levels, is expected to support continued enrollment and dose selection, followed by one-year data from the initial cohort and early results from the second cohort in the first half of 2026 and additional follow-up data in the second half. He also highlights Tenaya’s intention to secure regulatory alignment on registrational plans for TN-401 by year-end 2026, framing the year as a turning point for translating clinical progress into pivotal strategies. Coupled with an enhanced cash position of roughly $100 million following the December 2025 equity raise and projected funding runway into mid-2027, Pantginis believes Tenaya is financially equipped to execute on these programs, justifying his Buy recommendation.
According to TipRanks, Pantginis is a 5-star analyst with an average return of 14.0% and a 48.20% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Kura Oncology, Cytokinetics, and Esperion.
In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $2.00 price target.