Tyra Biosciences price target raised to $56 from $42 at Piper Sandler

Piper Sandler raised the firm’s price target on Tyra Biosciences (TYRA) to $56 from $42 and keeps an Overweight rating on the shares heading into the stock’s two key 2026 data events for dabogratinib. First up will be initial three months CR data in IR-NMIBC, followed by six months AHV data from the safety sentinel cohort in achondroplasia. The firm believes the efficacy bars are clearly defined and achievable. Piper knows from erdafitinib and infigratinib that FGFR3 inhibition works in these indications, and believes these readouts will show that dabo’s selectivity for FGFR3 means it can hit the efficacy bars safely, with a clean safety profile that allows for chronic dosing.