Tenaya Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Cory Jubinville, PhD from LifeSci Capital maintained a Buy rating on the stock and has a $3.00 price target.
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Cory Jubinville, PhD has given his Buy rating due to a combination of factors related to Tenaya Therapeutics’ strengthened strategic position and platform validation. The newly announced collaboration with Alnylam provides non-dilutive funding and the potential for up to $1.13B in development and commercial milestones, highlighting the economic upside if multiple cardiovascular targets progress successfully.
In addition, the partnership serves as external endorsement of Tenaya’s cardiovascular genetics platform, which has already produced clinical-stage assets such as TN-201 and TN-401 with encouraging interim data. Management expects to validate as many as 15 genetically defined targets for larger indications under this agreement, while still advancing internal programs, which together support the long-term growth narrative and justify maintaining a constructive view on the shares.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $3.00 price target.