TCR2 Therapeutics price target raised to $10 from $8 at Piper Sandler

Piper Sandler analyst Do Kim raised the firm’s price target on TCR2 Therapeutics to $10 from $8 and keeps an Overweight rating on the shares. The company’s decision to narrow gavo-cel clinical focus to ovarian cancer and restructure operations is likely "prudent" considering continued uncertainty around capital markets, the analyst tells investors in a research note. Kim adds that the prioritization of certain R&D efforts and workforce reductions should extend TCR2’s cash runway until early 2025.