Piper starts Tango Therapeutics with an Overweight on TNG462 potential

As previously reported, Piper Sandler initiated coverage of Tango Therapeutics (TNGX) with an Overweight rating and $11 price target The firm thinks investors are starting to regain confidence in the synthetic lethality space and see potential for Tango’s TNG462 following the positive competitor readthrough presented at ASCO earlier this year. The firm thinks the size and length of follow-up on the second half clinical update in pancreatic cancer and NSCLC can provide support for the potentially differentiated durability of TNG462 and “begin de-risking potential blockbuster opportunities,” the analyst tells investors.