Danielle Brill, an analyst from Truist Financial, maintained the Buy rating on Tectonic Therapeutic. The associated price target is $64.00.
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Danielle Brill’s rating is based on the belief that the market reaction to Eli Lilly’s recent trial results is overblown in relation to Tectonic Therapeutic’s prospects. While Eli Lilly’s trial for their relaxin mimetic, volenrelaxin, showed negative outcomes in a challenging patient population, Brill notes that the patient group in Tectonic’s trial is significantly different and potentially more stable, which could lead to better outcomes.
Brill highlights that Tectonic’s focus on a stable, compensated patient population with CpcPH, as opposed to the acute decompensated patients in Eli Lilly’s trial, provides a stronger rationale for success. Additionally, differences in trial design, such as exclusion criteria and endpoint measures, further support the potential for positive results in Tectonic’s ongoing trials. As a result, Brill reiterates a Buy rating, suggesting confidence in Tectonic’s strategic approach and potential for future success.
Brill covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Centessa Pharmaceuticals, and Tectonic Therapeutic. According to TipRanks, Brill has an average return of 8.8% and a 53.51% success rate on recommended stocks.
In another report released today, Mizuho Securities also reiterated a Buy rating on the stock with a $85.00 price target.