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Tango Therapeutics stock holds Buy rating, $13 target from H.C. Wainwright

Published 14/04/2025, 12:42
Tango Therapeutics stock holds Buy rating, $13 target from H.C. Wainwright
TNGX
-1.57%

On Monday, Tango Therapeutics Inc. (NASDAQ: TNGX), currently valued at $152 million, maintained a Buy rating and a $13.00 price target from H.C. Wainwright, following the biotechnology company’s disclosure of its fourth-quarter financial results for 2024. Tango Therapeutics reported a net loss of $0.35 per share, which was closely aligned with H.C. Wainwright’s anticipated net loss of $0.33 per share. According to InvestingPro analysis, the company appears undervalued based on its Fair Value estimate, despite facing profitability challenges.

The company’s research and development (R&D) expenses for the quarter amounted to $33.9 million, while selling, general and administrative (SG&A) expenses reached $11.1 million. These figures came in slightly below the firm’s estimates, which were $35.9 million for R&D and $11.4 million for SG&A. Looking ahead, H.C. Wainwright has adjusted its projection for Tango’s full-year 2025 net loss to $1.52 per share, up from the prior estimate of $1.42 per share.

Tango concluded the year 2024 with a solid financial position, having $257.9 million in cash, cash equivalents, and marketable securities. According to H.C. Wainwright’s analysis, this reserve is expected to provide Tango with sufficient operational runway into the third quarter of 2026. The company maintains a strong current ratio of 6.98, with liquid assets well exceeding short-term obligations, though InvestingPro analysis indicates rapid cash burn remains a concern.

The analyst at H.C. Wainwright reaffirmed the firm’s positive stance on Tango Therapeutics, restating the $13 price target for the next 12 months. This target reflects the firm’s confidence in Tango’s financial management and its potential for growth within the biotechnology sector. With analyst targets ranging from $8 to $16, and comprehensive analysis available in the Pro Research Report on InvestingPro, investors can access detailed insights into Tango’s valuation and growth prospects.

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

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