Three Analysts Initiate Coverage On This Newly Listed Precision Oncology Firm

  • Wedbush initiated coverage of Tango Therapeutics Inc TNGX with an Outperform rating and a $12 price target. 
  • Analyst Robert Driscoll believes Tango's unique synthetic lethality approach is differentiated. 
  • Furthermore, he expects Tango to leverage this comprehensive platform to drive the discovery and development of many programs that lead to significant value creation.
  • Goldman Sachs initiated coverage of Tango Therapeutics with a Buy rating and a $17 price target. 
  • Analyst Chris Shibutani believes Tango is "strongly positioned" as a precision oncology company. 
  • The Company's proprietary drug discovery platform utilizes a synthetic lethality-based approach that addresses the "vast, largely untapped realm" of cancers driven by tumor suppressor gene loss, Shibutani tells investors in a research note.
  • Guggenheim initiated coverage of Tango Therapeutics with a Buy rating and a $16 price target.
  • Tango started trading on NASDAQ a couple of weeks back. 
  • Its lead program TNG908 is a protein arginine methyl transferase 5 (PRMT5) inhibitor that is synthetic lethal with MTAP deletion.
  • IND submission for human trials is expected in Q4 of 2021.
  • Price Action: TNGX shares are up 15.2% at $14.89 during the market session on the last check Tuesday.
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Posted In: BiotechLong IdeasNewsHealth CareInitiationSmall CapAnalyst RatingsMoversTrading IdeasGeneralBriefsoncologyPreclinical Phase
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