Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Tyra Bioscience and keeping the price target at $30.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors that highlight Tyra Bioscience’s potential for success in its ongoing clinical trials and financial stability. The promising outlook for TYRA-300, particularly in the treatment of non-muscle-invasive bladder cancer (NMIBC), is a key factor. The drug’s potential to offer a more convenient oral treatment compared to traditional procedures could significantly improve patient quality of life and reduce the burden of frequent hospital visits.
Additionally, Kapoor notes the potential of TYRA-300 in the achondroplasia (ACH) market. The drug aims to push the limits on annualized height velocity (AHV), potentially offering better outcomes than current treatments like VOXZOGO. Financially, Tyra Bioscience is in a strong position, with substantial cash reserves projected to last through at least 2027, supporting its ongoing research and development efforts. These factors collectively contribute to Kapoor’s confidence in the company’s future prospects, justifying the Buy rating.