Tyra Biosciences price target raised to $53 from $37 at Wedbush

Wedbush analyst Robert Driscoll raised the firm’s price target on Tyra Biosciences (TYRA) to $53 from $37 and keeps an Outperform rating on the shares. The firm notes BridgeBio (BBIO) announced positive topline Phase 3 data for infigratinib in achondroplasia, providing validation for FGFR3 inhibition as an on-target mechanism for height velocity increases in skeletal dysplasia patients. Wedbush views this data as particularly encouraging for dabogratinib, as a more selective FGFR3 inhibitor will likely demonstrate significant further increases in absolute AHV, with potential for significant and clinically important changes in proportionality.