H.C. Wainwright reiterates Buy rating on Tango Therapeutics stock

Investing.com - H.C. Wainwright has reiterated its Buy rating and $13.00 price target on Tango Therapeutics Inc. (NASDAQ:TNGX) following the company’s announcement about dosing its first patient in a Phase 1/2 trial. According to InvestingPro data, this target aligns with the broader analyst consensus, which remains strongly bullish with targets ranging from $8 to $13. The stock has shown impressive momentum, gaining over 62% in the past six months.

The trial will evaluate the combination of Tango’s TNG462 with Revolution Medicines’ daraxonrasib or zoldonrasib, according to the research firm’s note.

H.C. Wainwright referenced data presented at AACR 2025 showing that combining a sub-therapeutic TNG462 dose with the RAS(ON) G12D-selective inhibitor zoldonrasib demonstrated enhanced antitumor activity compared to either compound alone, even at therapeutic doses of TNG462.

The research firm believes this preclinical data supports the clinical development of both TNG462 + zoldonrasib and TNG462 + RAS(ON) multi-selective inhibitor daraxonrasib combinations.

The $13 price target represents H.C. Wainwright’s 12-month outlook for the stock.

In other recent news, Tango Therapeutics has dosed the first patient in a Phase 1/2 trial evaluating its TNG462 drug in combination with Revolution Medicines’ RAS inhibitors for treating MTAP-deleted and RAS mutant metastatic pancreatic or lung cancer. The study aims to assess the safety and antitumor activity of these combinations. Additionally, Tango Therapeutics has initiated another Phase 1/2 clinical trial for its drug candidate TNG456, targeting MTAP-deleted solid tumors, particularly glioblastoma. This trial will evaluate TNG456 both as a standalone treatment and in combination with abemaciclib, focusing initially on glioblastoma patients.

In financial developments, Tango Therapeutics reported a net loss of $0.35 per share for the fourth quarter of 2024, aligning closely with H.C. Wainwright’s anticipated net loss of $0.33 per share. The company’s research and development expenses were $33.9 million, and selling, general and administrative expenses were $11.1 million, both slightly below the firm’s estimates. Tango ended 2024 with $257.9 million in cash, cash equivalents, and marketable securities, which H.C. Wainwright expects to support operations into the third quarter of 2026. The firm has maintained a Buy rating and a $13 price target for Tango, reflecting confidence in the company’s financial management and growth potential.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.