Tango Therapeutics downgraded to Hold from Buy at Jefferies

Jefferies analyst Maury Raycroft downgraded Tango Therapeutics (TNGX) to Hold from Buy with a price target of $27, up from $18. The company remains on-track to show PRMT5+RAS combo pancreatic ductal adenocarcinoma data in 2026, the analyst tells investors in a research note. Jefferies sees potential for “practice-changing data,” but believes Tango shares are now pricing in success. This raises the bar and leaves the shares with a more balanced risk/reward, contends the firm. It downgrades Tango on valuation with the stock up 186% year-to-date.