H.C. Wainwright analyst Robert Burns lowered the firm’s price target on Tango Therapeutics to $13 from $16 and keeps a Buy rating on the shares. The company last week announced that it is discontinuing development of TNG348, its allosteric inhibitor of the deubiquitinating enzyme USP1, the analyst tells investors in a research note. The firm removed TNG348 from its discounted cash flow based valuation.
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Read More on TNGX:
- Tango Therapeutics price target lowered to $14 from $16 at Guggenheim
- Tango Therapeutics price target lowered to $13 from $18 at Barclays
- Medivir licensee Tango Therapeutics discontinues TNG348 clinical program
- Tango Therapeutics to discontinue development of TNG348 program
- Tango Therapeutics reports Q1 EPS (35c), consensus (31c)