Tango Therapeutics initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Tango Therapeutics with an Overweight rating and $18 price target. The company’s MTA-cooperative PRMT5 inhibitor portfolio is well positioned within an increasingly important space within precision oncology, the analyst tells investors in a research note. The firm sees initial clinical data from competitors MRTX1719 and AMG 193 as establishing unambiguous clinical proof-of-concept for this class and believes the preclinical profiles of both TNG908 and TNG462 provide opportunity to pursue a number of potential first-in-class opportunities.